Newsletter
3% BUSINESS TAX RATE APPLIES TO ONSHORE FINANCIAL ENTERPRISES' PURCHASE OF SERVICES FROM OFFSHORE ENTERPRISES FOR OPERATION OF CORE BUSINESS
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Under the amended Article 36 of the Business Tax Act, the business tax rate for onshore financial enterprises' purchase of services from offshore foreign enterprises for operation of their core business is reduced from 5% to 3%, while 5% business tax rate remains applicable to other sales transactions. The Executive Yuan has yet to set a date on which the amendment will take effect. |