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Amendments to the Company Act

Recognizing the need to enhance Taiwan’s business environment to stay competitive in the global market, the Tsai administration has enacted a series of ambitious policy changes and legal amendments aimed at stimulating innovation and growth. Most fundamental to these goals are the sweeping changes made to the Company Act, Taiwan’s basic law governing business operations, that were passed by the Legislative Yuan in a late session on July 5 and promulgated into law on August 1.

To help AmCham members and guests better understand the scale and implications of these amendments, AmCham Taipei’s Tax Committee invited Chen Yen-po, Executive Specialist with the Department of Commerce under the Ministry of Economic Affairs (MOEA), to host an explanatory seminar in the Chamber’s Lincoln Room on September 13. Chen and the MOEA worked closely not only with the Legislative Yuan but also the private sector, including business professionals, legal experts, and academics, on enacting the amendments. Chen noted that 148 articles to the Company Act were amended, with at least four articles deleted and replaced.

From left to right: Chen Yen-po, Executive Specialist with the Department of Commerce under the Ministry of Economic Affairs (MOEA) and AmCham Taipei’s Insurance Committee Co-Chair Dylan Tyson, President & CEO, Prudential Life Insurance Company of Taiwan Inc.

Key amendments are intended to:

  • Enhance business transparency by clarifying reporting obligations and abolishing anonymous “bearer shares.”
  • Improve the environment for startups by permitting the issuance of non-par-value shares, as well as permitting multiple distribution of cash dividends throughout the year.
  • Enable greater flexibility in business operations by furthering the gradual digitalization of documentation, increasing the range of rewards possible for talent, and reducing restrictions on directorships.
  • Strengthen shareholder protections by amending rules on shareholder meetings and the nomination of directors.
  • Improve corporate governance through enhancing disclosure requirements and access to shareholder rosters.
  • Allow the registration of company names in English so as to help foster international business operations and branding.

Chen added that the MOEA is currently in the process of developing the regulatory framework that will see these amendments enter into force. His presentation was followed by a lively Q&A session.

The Lincoln Room is made possible by the generosity of a number of sponsoring companies:

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Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation. 

境外電商跨境銷售電子勞務課徵所得稅法令介紹

AmCham Taipei Tax Committee held a luncheon on July 5 at the Regent Taipei.

境外電商跨境銷售電子勞務課徵所得稅法令介紹– this event was conducted in Mandarin.

近年來電子商務交易成長快速,頻繁的網路交易、或跨境交易除對傳統產業帶來衝擊外,亦使現行的課稅制度臨嚴峻的挑戰。

臺灣財政部於107年1月2日發布2號解釋令,針對外國營利事業跨境銷售電子勞務之來源收入認定、所得計算、申報繳納程序等制定課稅規範。

本次擬針對前開新頒法令進行專題簡報,以介紹相關規定。

When: July 5, 2018 (12 PM – 2 PM)

Where: Regent Taipei, 4F VIP 1  / 台北晶華酒店 貴賓廳 一 4F

Speaker: 林聖慧 股長 / 財政部臺北國稅局

From left to right: AmCham Taipei Tax Committee Co-Chair Josephine Peng, Senior Counselor, Lee and Li, Attorneys-at-Law; Speaker 林聖慧 股長 財政部臺北國稅局; Tax Committee Co-Chair Cheli Liaw, Partner, Deloitte & Touche

Interested in attending our events? Join us at other upcoming events, click here.

Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

Understanding the Impact of U.S. Tax Reform

The recently enacted 2017 Tax Cut and Reform Bill, approved December 22, 2017, has substantially impacted taxpayers and domestic companies in the United States as well as operational planning for multinational corporations. While the new law reduces corporate and individual tax rates, the policy comes with a wide range of complexities in financial reporting.

To ensure companies are prepared to account for changes in the tax code related to the bill, AmCham Taipei’s Tax Committee invited Peter Su, US Tax / Tax & Legal Services Partner / Managing Director of PwC Taiwan, to a Chinese-language luncheon program entitled, “美國稅改之影響初步評估” (Assessment of Initial Impact in US Tax Reform)  held at the Grand Hyatt Taipei. Su discussed the initial impact of the US tax reform, impact of US tax reform on Taiwan businessmen, and individuals in the US.

From left to right: Peter Su, CA CPA/TX Bar (USA), US Tax / Tax & Legal Services, Partner / Managing Director, PwC Taiwan; AmCham Tax Committee Co-Chair Stella Lai, Public Affairs / Government Affairs Consultant, Dell (Taiwan) B.V. Taiwan Branch; AmCham President William Foreman

*This event was conducted in Mandarin. 本次活動將以中文進行。

When: June 8, 2018 (12 PM – 2 PM)

Where: Grand Hyatt Taipei, 2F, The Residence

Speaker: Mr. Peter Su, CA CPA/TX Bar (USA), US Tax / Tax & Legal Services, Partner / Managing Director, PwC Taiwan
蘇宥人執行董事

美國總統Donald J. Trump (以下簡稱川普)於 2017年12月22日簽署減稅1.5兆美元的稅改法案,新法除調降所得稅率、修正所得來源認定判斷條件及取消企業之最低稅負制等, 另新增多項反避稅以及防止稅基侵蝕條款。此次稅改是美國三十年來規模最大的減稅調整,不僅影響美國國內企業,亦影響集團跨國企業之營運規劃,包含歐盟及中國等世界主要經濟體皆積極評估其對各國經濟環境之衝擊與影響。不論台商是否已在美國投資皆須留意,審慎檢視美國稅改之因應策略,以便即時調整美國及全球營運佈局。

Interested in attending our events? Join us at other upcoming events, click here.

Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

我國移轉訂價三層文據架構及應用

AmCham Taipei Tax Committee held a seminar on May 29 at The Sherwood Taipei, featuring Deputy Director-General Hsiu-Ling Sung of the Taxation Administration of the Ministry of Finance, as the speaker.

我國移轉訂價三層文據架構及應用 – this event was conducted in Mandarin.

In response to the international transfer pricing trends of enhancing transparency of tax information and preventing cross-border tax avoidance as well as in line with review standards of international organizations, Taiwan amended its “Regulations Governing Assessment of Profit-Seeking Enterprise Income Tax on Non-Arm’s-Length Transfer Pricing” on November 13, 2017 to incorporate the preparation of Master File and Country-by-Country Report by MNEs with reference to the final reports and recommendations of BEPS Action Plan 13 to accomplish the international requirements for three-tiered transfer pricing documentation.

Furthermore, in order to reduce the compliance cost of multinational enterprise groups in the preparation of transfer pricing documentation, we released the standards of safe harbor for exemption from the submission of a master file and country-by-country report on December 13, 2017, taking into account international practices, our situations, and public views. In the case of a profit-seeking enterprise that does not meet the relevant safe harbor standards, it shall disclose the information of related party transactions and multinational enterprise group as well as prepare local file and transfer pricing report when filing income tax returns, and then submit a country-by-country report before the end of 2018.

When: May 29, 2017 (12 PM – 2 PM)

Where: The Sherwood Taipei

Speaker: 宋秀玲 財政部賦稅署副署長
Hsiu-Ling Sung, Deputy Director-General, Taxation Administration, Ministry of Finance

From left to right: AmCham Tax Committee Co-Chair Cheli Liaw, Partner, Deloitte & Touche; Deputy Director-General, Hsiu-Ling Sung Taxation Administration, Ministry of Finance; AmCham Tax Committee Co-Chair Josephine Peng, Senior Counselor, Lee and Li, Attorneys-at-Law; AmCham Tax Committee Co-Chair Stella Lai, Public Affairs Consultant, Government Affairs Consultant, Dell (Taiwan) B.V. Taiwan Branch

Interested in attending our events? Join us at other upcoming events, click here.

Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

AmCham Tax Committee Luncheon: 境外電商課徵營業稅新制簡介

AmCham Taipei Tax Committee held a luncheon on June 28 at the Regent Taipei, featuring 許慈美女, 財政部臺北國稅局局長, as the speaker.

境外電商課徵營業稅新制簡介 – this event was conducted in Mandarin.

*This event will be conducted in Mandarin. 本次活動將以中文進行。

106年5月1日起,境外電商對我國自然人銷售電子勞務,每年達48萬者,應辦理稅籍登記報繳營業稅,為方便境外電商瞭解詳細內容,台北市美國商會特別邀請到台北國稅局局長許慈美女士蒞臨午餐會演講,並簡要介紹境外電商課徵營業稅新制的課徵範圍、稅籍登記及申報繳納方式,歡迎對此議題有興趣的會員報名參加。

When: June 28, 2017 (12 PM – 2 PM)

Where: Regent Taipei, 4F VIP 5+6  / 台北晶華酒店 貴賓廳五、六 4F

Speaker: Tzu-Mei Hsu (Director-general, National Taxation Bureau of Taipei, Ministry of Finance) / 許慈美女士, 財政部臺北國稅局局長

From left to right: Chao-Tsai Chan (Chief of the Fourth Examination Division, National Taxation Bureau of Taipei, Ministry of Finance), Tax Committee Co-Chair, Josephine Peng, Senior Counselor, Lee and Li, Attorneys-at-Law, Speaker Tzu-Mei Hsu 許慈美女士 (Director-general, National Taxation Bureau of Taipei, Ministry of Finance), Tax Committee Co-Chair Cheli Liaw, Partner, Deloitte & Touche

Interested in attending our events? Join us at other upcoming events, click here.

Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

AmCham Tax Committee Luncheon: 「納稅者權利保護法」下的稅務管理新契機

AmCham Taipei Tax Committee held a luncheon on June 15 at AmCham Taipei Lincoln Room, featuring Mr. Kevin Chen 陳志愷會計師, Deputy Head of Tax and a Partner in KPMG Taiwan, Member of Taiwan CPA Association of R.O.C. Tax Regulations Committee, as the speaker.

「納稅者權利保護法」下的稅務管理新契機 – this event was conducted in Mandarin. 本次活動將以中文進行。

近年來,外商在臺經營過程中,遭遇不少稅務爭議議題,諸如:境外服務費支付所得稅扣繳、集團管理費用、外派人員薪資、商譽及無形資產認列攤銷、移轉訂價等。而相關議題本身具複雜性及稅務機關執法立場因素,使外商於爭取應有租稅權益時產生諸多困難,影響外商的正常獲利。

台灣的納稅者權利保護法即將於2017年12月28日施行,該法揭示了那些攸關納稅者權利保護之特別措施,能為相關爭議解決帶來怎樣的新契機,相信是很多外商公司財務長或法務長關切的重要議題。

When: June 15, 2017 (12 PM – 2 PM)

Where: AmCham Taipei, Lincoln Room

Speaker: Kevin Chen 陳志愷會計師

From left to right: Tax Committee Co-Chair Josephine Peng, Senior Counselor, Lee and Li, Attorneys-at-Law, with speaker Kevin Chen 陳志愷會計師, Deputy Head of Tax and a Partner in KPMG Taiwan and Ellen Ting, KPMG Tax & Investment Dept. Partner

Interested in attending our events? Join us at other upcoming events, click here.

Note: AmCham events are intended primarily for AmCham members and their guests. Many events are open to members’ guests and other non-members, but the attendance of any non-member must be approved in advance. AmCham reserves the right not to admit a non-member to any event without explanation.

AmCham Tax Committee Luncheon – 跨境電商營業稅課稅新制簡介

AmCham Tax Committee held a luncheon on March 10th at Regent Taipei to inform and educate attendees about business and cross-border tax laws.

跨境電商營業稅課稅新制簡介 – this event was conducted in Mandarin.

為解決現行跨境免稅門檻及逆向課稅機制產生之營業稅課稅問題,財政部參考經濟合作暨發展組織(OECD)建議及歐盟、韓國、日本、澳洲、紐西蘭等國家作法,擬具「加值型及非加值型營業稅法」部分條文修正案,明定境外電商業者利用網路銷售勞務予境內自然人者,應於我國辦理稅籍登記及報繳營業稅,俾掌握稅源及促進國內、外電商業者公平競爭。該法案業經總統於105年12月28日修正公布,行政院並已核定自106年5月1日開始施行。本次會議將向與會會員說明修法內容及本項政策未來執行的重點與方向。

When: Mar 10, 2017 (12 PM – 2 PM)

Where: Regent Taipei, 4F VIP Room 1 / 台北晶華酒店 貴賓廳一 4F

Speaker: 翁培祐 – 財政部賦稅署消費稅組組長

(left) Tax Committee Co-Chair, Josephine Peng Senior Counselor, Lee and Li, Attorneys-at-Law, (second-left): 蘇靜娟 – 稽核 財政部賦稅署消費稅組, (second-right) 翁培祐-財政部賦稅署消費稅組組長, (right) Tax Committee Co-Chair, Cheli Liaw Partner, Deloitte & Touche

 

Tax Luncheon: U.S. Income Tax Compliance & Reporting

U.S. citizens and green card holders must report their worldwide income and file a variety of reporting forms with the IRS to disclose their interests in foreign bank accounts, trusts and corporations. Failure to file such reporting forms can subject U.S. taxpayers to significant civil and potentially criminal liability.

On October 27, the AmCham Taipei Tax Committee invited Christopher Karachale, Attorney and Partner, Hanson Bridgett LLP and Raymond Leung, Certified public accountant and a partner, Leung, Louie, lp & Co. LLP to give AmCham members and guests a detailed explanation of the responsibilities faced by U.S. taxpayes living abroad.

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Various programs exist allowing U.S. taxpayers the opportunity to come into compliance with their reporting responsibilities. The presentation will describe these programs and the various requirements for individuals to come into compliance with their U.S. tax reporting responsibilities.

Expatriate U.S. taxpayers and non-U.S. individuals are increasingly interested in investing in U.S. businesses and real estate. In addition to tax reporting responsibilities, the presentation will discuss the advantages and disadvantages of the different entity structures foreign investors may consider for their U.S. investments.

To browse or register for all upcoming AmCham Events, click here.

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Tax Luncheon: Tax Challenges & Opportunities for Multinationals

On October 26, AmCham’s Tax Committee hosted a luncheon at the Regent Taipei, where Eunice Kuo, Partner of Deloitte China, gave a presentation on the Tax challenges and opportunities faced by multinational corporations in their supply chain management.

Synopsis of Kuo’s Presentation: 

Multinational companies have been constantly looking for optimal business transactional structures to streamline their operations and to optimize their tax efficiency. It has been common to see MNCs’ use of regional principal trading company, group intangibles owner and group financing and treasury center. Under the post-BEPS (base erosion and profit shifting) environment, would these commonly seen structures still be safe for tax purposes after the OECD introduced BEPS action plans and Asia Pacific tax authorities have been modifying local rules to respond to BEPS actions?
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Kuo shared with with AmCham members and guests what MNCs should do to mitigate their tax risks while looking after tax efficient business transactions. Topics of discussion included

• Commonly seen business models in this Region
• BEPS actions which may impact on existing business models
• Discussion about value chain analysis
• Next steps for MNCs

To browse or register for all upcoming AmCham Events, click here.