2016-07-25
New Regulations for Mandatory and Prohibited Provisions for Standard Form Lease Contracts Announced / Income Tax Act Amendments Pass Third Reading:
1. Taiwan's Ministry of the Interior (“MOI”) announced draft Mandatory and Prohibited Provisions for Standard Form Lease Contracts in October 2015, and the finalized version was officially released on July 11, 2016, and will take effect on January 1, 2017. The new regulations provide tenants more comprehensive protection. Details of the content of the draft were introduced in this Firm’s News column dated June 20, 2016.
2. Draft amendments to the Income Tax Act have passed the third reading in Taiwan’s Legislative Yuan on July 12, 2016. The amendments include rules for Controlled Foreign Corporations “CFC” and Place of Effective Management “PEM”. One KMT legislator expects that the new regulations will bring about an additional NTD 6-7 trillion in tax revenues per year. The content of the amendment was reported on in this Firm’s News column dated June 6, 2016.
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