Taiwan MOF Seeks Comments on Draft Amendment to Basic Income Tax Rate for Profit-Seeking Enterprises

The Taiwanese Ministry of Finance Aug. 28 opened a consultation on a draft amendment to implement the Pillar Two global minimum tax (GMT) rules in accordance with the OECD’s base erosion and profit shifting (BEPS) initiative. The draft amendment includes measures to: 1) impose, from 2025 onwards, a 15 percent minimum effective tax rate (ETR) on multinational enterprise groups (MNEs) with global consolidated income of at least 750 million euros (US$830 million) per year in at least two of the last four financial years; 2) maintain the 12 percent basic income tax rate for profit-seeking enterprises that don’t meet the ...