Date
21 August 2018

Revived VAT to cut taxes on Taiwan leasing firms, paper says

The tax burden on Taiwan’s leasing firms is expected to ease with Beijing’s reversion this month to the former value-added tax system for the leasing industry, Economic Daily News reported Friday, citing sources from some leasing firms. The central government began in August to replace business taxes with value-added taxes, raising the tax rate for leasing firms. But under the new regime, leasing firms will be only be taxed on their interest income and not their capital, the report said.

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