To link to this article, copy this persistent link:
(Feb 13, 2009) Taiwan's Statute for Upgrading Industries (promulgated on December 29, 1990), was amended on January 23, 2009. Article 9-2 now specifies that a newly incorporated company or a company being expanded by means of a capital increase will be exempt from payment of business profit tax for the period of July 1, 2008, to December 31, 2009 (para. 1). The tax-exempt income or newly increased tax-exempt income tax concession amount will be limited by the capital investment and the total amount of money of the investment made during that period (new para. 3).
Article 9-2 still stipulates that if a company is already eligible to apply for investment incentives set forth in articles 8 and 9 of the Statute, it will not be entitled to redundantly apply for the incentive provided in article 9-2 [but amended to specify paragraph 1 instead] (former para. 4, new para. 5). However, it now further provides that a company newly incorporated or expanded by means of a capital increase during the period from July 1, 2008, to December 31, 2009, will be limited to a one-time application for exemption from payment of business profit tax. (Amendment to Statute for Facilitating Upgrade of Industries, 6845 GAZETTE OF THE OFFICE OF THE PRESIDENT 56-57 (Jan. 23, 2009), available at http://content.glin.gov/summary/215014; Statute for Upgrading Industries [English translation of the Statute as amended on Feb. 6, 2003], Investment Commission of the Ministry of Economic Affairs website, http://www.moeaic.gov.tw/system_external/ctlr?PRO=LawsLoad&lang=1&id=4
7 (last visited Feb. 9, 2009).)
- Author: Wendy Zeldin More by this author
- Topic: Taxation More on this topic
- Jurisdiction: Taiwan More about this jurisdiction
Search Legal News
Find legal news by topic, country, keyword, date, or author.
Global Legal Monitor RSS
Get the Global Legal Monitor delivered to your inbox. Sign up for RSS service.
The Global Legal Monitor is an online publication from the Law Library of Congress covering legal news and developments worldwide. It is updated frequently and draws on information from the Global Legal Information Network, official national legal publications, and reliable press sources. You can find previous news by searching the GLM.
Last updated: 02/13/2009