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財政部賦稅署-法規查詢主題專區

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法律與法規命令

Tax Act:
Regulations Governing the Management, Utilization, and Taxation of Repatriated Offshore Funds
Article 7
Content:
Where an individual or a profit-seeking enterprise, within one year from the remittance of the funds into the segregated foreign exchange deposit account as referred to in the preceding article, applies to and receives an approval letter from the MOEA for any direct investment in any industries, or any indirect investment in any policy-targeted industries through any domestic venture capital enterprise or private equity fund, the individual or profit-seeking enterprise shall file an application with the account-handling bank by submitting such approval letter from the MOEA to withdraw the funds therein for investment within the investment timeframe approved in such approval letter.

During the investment period, the individual or profit-seeking enterprise shall, by the end of January every year, submit to the MOEA for recordation a report specifying the progress of the investment plan, or the status of the investment in domestic venture capital enterprise or private equity fund and the status of the investment in the policy-targeted industries through such domestic venture capital enterprise or private equity fund in the preceding year. If the funds withdrawn pursuant to the preceding paragraph have not been invested within the approved investment timeframe or have not been fully invested after the investment plan has been executed, the balance of such funds shall be deposited back to the segregated foreign exchange deposit account within one month of the end of the approved investment timeframe via the following means, and shall be subject to Article 10 hereof:
1. if such funds are in New Taiwan Dollars or a foreign currency other than its original currency at the time of withdrawal, it shall be converted back into its original currency at the then prevailing foreign exchange rate;
2. if such funds are in its original currency, it shall be deposited back in such currency.

Where the funds withdrawn pursuant to Paragraph 1 are used for purposes other than the approved investment or are not deposited back to the segregated foreign exchange deposit account in accordance with the preceding paragraph, or are not reported to the MOEA for recordation in accordance with the preceding paragraph, and if the individual or profit-seeking enterprise fails to submit a supplementary report within the timeframe specified in the MOEA's notice, the tax authority shall, pursuant to the rules below, make a supplementary assessment on the pre-tax value of such funds calculated based on the applicable tax rates specified under Paragraph 2 of the preceding article; the amount of the tax already paid on such pre-tax value in accordance with Paragraph 2 of the preceding article may be deducted:
1. if the funds concerned are in New Taiwan Dollars, the pre-tax amount thereof shall be subject to a 20% tax rate;
2. if the funds concerned are in a foreign currency, the pre-tax amount thereof shall be subject to a 20% tax rate, and the tax payment shall be converted into New Taiwan Dollars at the buying rate quoted at the closing of the spot exchange market by the Bank of Taiwan on the first working day of the year in which the tax authority makes the supplementary assessment (if the spot buying rate is not available, the cash buying rate shall apply).
 Update:2019-11-14

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