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Business Taiwan Taxation Finance Taxation Corporate income tax (or ‘profit-seeking enterprise income tax’) is levied by Taiwan on all registered profit-seeking enterprises including companies, sole proprietors, partnerships and other forms of business organisation organised for profit. Both foreign and locally owned firms operating within Taiwan and which are classed as profit-seeking enterprises are subject to the following [...]

Business Taiwan Infrastructure such as road, rail, harbours and airports are highly developed in Taiwan. Taiwan’s rapid economic development over the past two decades has led to a surge in growth in all sectors of infrastructure. Taiwan’s well-developed infrastructure and its world-class technology sector, combined with an export-driven economy, make it an ideal location for the development [...]

Business Taiwan The decision to set up a local office in Taiwan will depend on your market entry and maintenance strategy. Setting up a local office in Taiwan requires approval and presentation of documentation to support applications. Generally, there are four main steps in the approval process. You must apply to: the government body controlling the related [...]

Business Taiwan Taiwan places great importance on foreign and overseas Chinese investment and the government provides assistance to foreign nationals investing in Taiwan. Large-scale inward investment is a relatively recent phenomenon and more than 80 per cent of all inward investment has occurred in the last 10 years. The Ministry of Economic Affairs (MOEA) administers Taiwan’s macro-economic [...]

Business Taiwan Pro-forma invoice Commercial invoice Certificate of origin Bill of lading Packing list Special certificates Pro-forma invoice Two copies are required to obtain import licence. See ‘Methods of quoting and payment’ regarding quotations. The invoice must include: * a full description of the goods * including brand name (if any) * method of packing * quantity [...]

Business Taiwan Import restrictions Tariff Packing, marking and labelling Methods of quoting and payment Public health requirements Import restrictions Imports may be effected either under the Automatic Approval system or the Covering Licence system. Some applications for Automatic Approval items must be made to authorised banks; other items may be permitted entry without a licence. Applications for [...]

Business Taiwan Check cultural difference in doing business in Taiwan Establishing contacts and networks: * It is unusual for Taiwan companies to buy anything from someone that they do not know. * Business introductions are vital and ‘cold calling’ is not the appropriate way to start a business relationship in Taiwan. * The ‘classmate network’ is a [...]

Business Taiwan To strengthen its position in the international supply chain and utilize its favorable trading location in East Asia, Taiwan has established five free trade zones at Taiwan Taoyuan International Airport and the harbors of Keelung, Taipei, Taichung, and Kaohsiung. To further expand trade opportunities, Taiwan has signed ATA Carnet agreements with several countries to eliminate [...]

Business Taiwan Taiwan has made great strides in accommodating the staffing needs of international companies with operations in Taiwan. Not only have application requirements and procedures for work permits for foreign nationals been clarified and streamlined through the consolidation of what was once the domain of many different agencies into a single window, many restrictions have either [...]