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VAT
Basic Introduction
  • Publish Date:2017-08-15
  • Category:VAT
  • Content
    Creating a system for foreign suppliers providing cross-border electronic services charged VAT
    To solve the current tax levy problem on business tax arising from cross-border tax-free threshold and reverse charge mechanism, the MOF referred to the OECD suggestion as well as relevant measures taken by the EU, Korea, Japan, etc. to amend our current Value-Added and Non-Value-Added Business Tax Act. The Act stipulates that foreign suppliers selling cross-border electronic services to domestic individual purchasers shall register for business and pay VAT in our country in order to control tax sources.

    The MOF has held six meetings and listened to public views in July and August, 2016 for reaching a consensus. Subsequently, the MOF drafted the proposal of the Value-Added and Non-Value-Added Business Tax Act and submitted it to the Executive Yuan for examination on September 1, 2016. The Act was promulgated by the President on December 28, 2016 and will come into force from May 1, 2017.
     
Visitor:2285 Update:2018-11-27
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