- Proposed VAT Registration Threshold Increase: The Taiwanese Ministry of Finance is considering raising the VAT registration threshold for non-resident entities providing electronic services from NT$480,000 (approximately US$14,645) to NT$600,000 (approximately US$18,306), allowing more flexibility for foreign businesses without a fixed presence in Taiwan.
- Focus on Non-Resident Digital Service Providers: The amendments specifically target non-resident entities that sell electronic services to individuals through digital platforms or the internet, reflecting Taiwan’s efforts to adapt VAT rules to the growing digital economy.
- Public Consultation Period: Interested parties can submit comments on the proposed draft amendments until February 24, providing an opportunity for stakeholders to influence the final regulations before implementation.
Source: globalvatcompliance.com
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Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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