It has emerged that the government of Taiwan is planning to place a tax on transactions conducted over the internet, although an official issued an assurance this week that any future levy will not extend to the purchase of household necessities.
"Upon proof provided by taxpayers, no taxes will be imposed on online sales of individual necessities," Ministry of Finance official Sheu Chun-an confirmed, according to the Taipei Times.
However, Sheu stated that all capital gains arising from sales made online “should be taxed in accordance with the principle of tax fairness".
The official added that the government is awaiting the release of detailed proposals for the regulations and compliance procedures of an online tax before a launch date is announced.
The Ministry of Finance will also hold a series of public meetings on the proposals before establishing a timetable for the implementation of the tax.
A comprehensive report describing the stage of development of e-commerce in most major offshore jurisdictions, including the legislative regimes, is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop/
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment