Taiwan MOF Clarifies Withholding Tax on Dividends Paid to Nonresidents

The Taiwanese Ministry of Finance March 2 clarified withholding tax rules on dividends paid to nonresidents. The clarification includes: 1) the obligation for withholding agents to apply the 21 percent withholding tax rate on surplus payments made to nonresident taxpayers; 2) the requirement to report and remit withholding taxes to the tax authority within 10 days from the date of withholding; 3) the elimination of methods allowing taxpayers to offset half of the withholding tax; and 4) penalties for noncompliance. [Taiwan, Ministry of Finance, 03/02/22]

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