- Taiwan’s Ministry of Finance has issued a notice requiring offshore electronic services suppliers to convert their sales amounts from foreign currency to New Taiwan Dollars for reporting business tax.
- Offshore electronic service suppliers selling digital services in foreign currencies and exceeding annual sales of NT$480,000 must register for taxation and declare and pay business tax accordingly.
- The conversion of sales amounts into New Taiwan Dollars should be based on the spot buying exchange rate announced by the Bank of Taiwan on specific dates, or the cash buying exchange rate if the spot buying rate is not available.
Source Orbitax
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