Taxation: No Personal Income Tax on Securities Transactions from 1 January 2016.
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[2015/12/15]
On 17 November 2015, the Legislative Yuan enacted amendments to the Income Tax Act. From 1 January 2016, income tax will no longer be levied on individuals’ income from securities transactions. The change in the law also applies to non-resident individuals.
The tax exemption resulting from the amendments does not cover securities transaction income of for-profit enterprises, and therefore they will continue to be subject to income basic tax under the provisions of the Income Basic Tax Act (i.e., they are subject to the alternative minimum tax system). However, if a foreign corporate entity has no permanent place of business and no business agent in the ROC, it is not subject to the Income Basic Tax Act and need not pay tax on securities transaction income.
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