Taiwan MOF Clarifies Income Reporting Obligations for Individuals Investing in Offshore Structured Products

The Taiwanese Ministry of Finance Nov. 13 clarified the income reporting obligations for individuals investing in offshore structured products. The clarification includes that: 1) income from these products should be computed and reported according to income basic tax regulations and be fully included in the individual’s foreign income; 2) if offshore structured products were issued outside Taiwan in the form of bonds, and combine fixed-income products with specified derivatives, the income from them is considered non-Taiwan sourced income under the Alternative Minimum Tax Act; 3) under guidelines for non-Taiwan sourced income and income from Hong Kong and Macau, the income ...