MOF mulls increase in minimum corporate tax
The Ministry of Finance (MOF) is considering increasing the minimum corporate tax rate from 12% to 15% within the next year.
This move aims to align with global tax reforms initiated by the international Organisation for Economic Co-operation and Development. The proposed change would mainly target large multinational companies to ensure they pay a fair share of taxes globally.
However, smaller businesses generating less revenue could continue to pay the current 12% rate based on a revenue threshold of €7.5 billion to avoid excessive tax burdens. The ministry is aiming to finalise this decision within a year. This potential change could significantly impact businesses operating in Taiwan.