Taiwan Increases Dividends Withholding Tax to 21%

Taiwan's Ministry of Finance has announced that effective 1 January 2018, the withholding tax rate on dividends paid to nonresidents is increased from 20% to 21%. The increase is implemented as part of broader plans to reform Taiwan's tax system ({News-2017-09-07/P/3-previous coverage}) and is meant to balance the effective taxation of domestic and foreign shareholders.