Taiwan MOF Clarifies Tax Treatment of Proceeds From Sale of Securities by Profit-Making Enterprises

The Taiwanese Ministry of Finance June 13 clarified the tax treatment of proceeds from the sale of securities by profit-making enterprises. The clarification includes: 1) that income from the sale of domestically listed and unlisted stocks by profit-making enterprises on a stock exchange isn’t subject to income tax but should be included in basic income declarations; 2) that profit-making enterprises should deduct losses assessed by the tax collection authority from the last five years from their income each year, in the order the losses occurred; 3) that for stock-trading income that is subject to tax on half of the long-term ...