Taiwan MOF Clarifies Reporting of Capital Gains on Sales of Foreign Stock by Individuals

The Taiwanese Ministry of Finance Sept. 16 clarified reporting of capital gains on sales of foreign stock by individuals. The clarification includes that: 1) individuals should report gains in the tax year of the transaction settlement date, for income basic tax purposes; 2) the foreign income of a taxpayer, their spouse, or dependents, should be included in income for income basic tax purposes, for the payment date tax year; 3) the payment date tax year for stock trading income is the transaction settlement date tax year, and for mutual fund beneficiary certificate income is the tax year of the contract’s ...