Taiwan MOF Extends Reduced Business Tax Rate for Using Digital Payment Systems

The Taiwanese Ministry of Finance Jan. 5 announced an extension of the reduced 1 percent business tax rate for business operators using mobile payment and multimedia information service machines (KIOSKs), effective Jan. 1. The announcement includes: 1) the extension to Dec. 31, 2028, of the 1 percent business tax rate for eligible operators; 2) expanded application of the 1 percent rate, including for mass-consumption food businesses such as soy milk shops, ice fruit shops, buffet restaurants, noodle shops, and lunch box retailers; 3) the ability to apply the 1 percent rate during the preferential period, for operators meeting unified invoice ...