Taiwan MOF Clarifies Withholding Tax Amendments, Reporting Period for Various 2025 Income Declarations

The Taiwanese Ministry of Finance Dec. 26 clarified amendments to the Income Tax Act, effective Jan. 1, 2026. The clarification includes that: 1) the scope of withholding tax agents is revised from natural persons, including supervisors or heads of institutions, to the institutions, government agencies, organizations, or schools; 2) the deadline for payment, declaration, and issuance of withholding tax is extended by five days if there is a national holiday of more than three consecutive days within 10 days from the date that withholding tax is due; 3) penalty rules are revised to allow tax authorities discretion based on case ...