Taiwan Banks Led Group to Negotiate Tax Dispute With Philippines

Taiwan’s Bankers Association, an industry group representing the island’s banks, led a delegation to the Philippines in March to negotiate ongoing tax disputes with local officials, Wang Yun-chung, deputy director-general of the Financial Supervisory Commission’s banking bureau, says at a press conference Tuesday.

• Taiwanese banks discussed issues arising from Philippine authorities’ reviews of stamp duties and withholding taxes on foreign institutions, focusing on activities dating back up to five years after their establishment
• Negotiations are ongoing, including discussions over details such as the look-back period for tax audits. Final decisions will be made by Philippine regulators
• None of the Taiwanese ...