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Today’s Top Headlines

Taiwan To Tax Cross-Border e-Commerce

by Mary Swire,, Hong Kong

16 August 2016

Given the recent rapid development of cross-border transactions over the internet, Taiwan's Ministry of Finance (MOF) has disclosed it is formulating plans to tax the operations of multinational enterprises (MNEs) engaged in e-commerce in the country.

The MOF is to invite representatives of MNEs such as Airbnb, Uber, and Agoda, as well as local tax professionals, to meetings to devise and agree tax reforms in the sector.

It is expected that reform will consist of insisting that foreign e-commerce operators establish Taiwanese permanent establishments. These entities would be required to report and remit tax on goods and services provided to the domestic market and pay corporate tax on any profits deriving from local operations.

It is hoped that the tax reform can be implemented in 2017.

TAGS: compliance | tax | business | tax compliance | commerce | corporation tax | Taiwan | ministry of finance | internet | e-commerce | multinationals | transfer pricing | tax reform

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