The Legislative Yuan of Taiwan passed the amendment to the Income Tax Act regarding taxation of gains arising from share transfer by individuals on 25 July 2013.
According to the amendment, no income tax on gains of share transfer will be imposed even if the main index of the stock market reaches 8,500 points, a level at which the stock gain tax should be levied in 2013 and 2014 under the current legislation.
From 2015, the (large) taxpayers whose amount of the annual sale exceeds TW…