If the heir continues to live in Taiwan and is a Taiwanese citizen, all property is subject to inheritance tax, both inside and outside of Taiwan.
If the heir is a Taiwanese citizen but has continued to live outside of Taiwan, inheritance tax will only be levied on the property in Taiwan
Taiwan Gift Tax – Property donated by a donor who is a resident of Taiwan is subject to gift tax regardless of whether Taiwan is located domestically or abroad.
Companies must use the domestic currency, the New Taiwan Dollar (NTD), for bookkeeping and settlement operations. Even if foreign currency is used for business needs, the settlement report must convert foreign currency into domestic currency.
Taiwan VAT is levied when goods or services are sold or imported within Taiwan.
The number of positive cases is rising rapidly recently. The Ministry of Finance urgently announced on 27th April 2022 that, considering the possibility of the spread of the epidemic caused by the crowds to the IRS in a short period of time, the income tax declaration will be extended by one month to the end of June. This is the extend the period for three consecutive years due to the pandemic. The extension applies both corporate income tax and personal income tax.