CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Taiwan Clarifies Tax On Pharmacies

Taiwan Clarifies Tax On Pharmacies

by Mary Swire, Tax-News.com, Hong Kong

01 January 2018


Taiwan's Ministry of Finance has clarified the income tax rules that apply to persons supplying pharmaceuticals.

In response to a question from a taxpayer, the Ministry said a person supplying pharmaceuticals to persons with a prescription should have that income taxed under the personal income tax regime.

Those selling pharmaceuticals other than to persons with a prescription are taxed under the corporate income tax regime, and those engaging in both trades are subject to personal income or corporate income tax in proportion to those activities.

To be taxable under the personal income tax regime, taxpayers must retain prescriptions and information about the pharmaceuticals supplied to demonstrate that the income should be subject to individual income tax, rather than falling under the scope of corporate tax, the Ministry said.

TAGS: tax | corporation tax | Taiwan | trade | individual income tax

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »