Non-resident foreigners to enjoy tax cut on income in Taiwan.
The tax-cut program targets the withholding tax on the incomes of those foreigners, who do not have to file tax returns. At present, the withholding tax stands at 20% in most cases.
The withholding tax on interest income of those foreigners from short-term bills, asset-based securities, bonds, and structured notes, for instance, will be cut to 15%, while that on salary income and retirement pay will be lowered to 18%. Stock dividend, though, will still be subject to 20% tax.
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|Publication:||The Taiwan Economic News|
|Article Type:||Brief article|
|Date:||Oct 29, 2009|
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