Will Taiwan refund tax on offshore mandates?
A little-known change in Taiwan's tax rules could mean a 20% tax rebate on institutional mandate fees for offshore asset managers û or could it?
On September 3, Taiwan's Ministry of Finance published a set of final rules clarifying its income tax law. The aim was to put an end to disputes frequently started by multinational firms doing business in the country over the definition of 'Taiwan-sourced' income and thus over how much (or little) tax they should pay. The rules are supposed to be universal and should be applicable to service providers across all sectors, including financial services.
Multinationals have been encourag…
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