Frequently Asked Questions (FAQs)
Explore answers to frequently asked questions regarding our services.
General
We offer tax agent appointment for FINI accounts in Taiwan. We also perform other services, including but not limited to income tax filing, tax reclaim and tax relief at source applications, and advisory services.
Our primary clients include foreign institutional investors seeking tax assistance in Taiwan. Most of them are asset management companies, retirement funds and sovereign wealth fund.
You can contact us through our website or call our office to schedule a free consultation.
Our fees vary based on the specific services provided and the complexity of each case. We will share the fee quote with you once we obtain filled questionnaire from you.
FINI
“FINI” is the abbreviation of “Foreign Institutional Investor”. Each FINI account in Taiwan has a unique FINI ID and offical fund name in English/Chinese.
Please liaise with your global custodian bank of your fund and they will give you more instructions.
There is no restriction on the number of FINI accounts that may be held under a single company or ultimate parent fund. If you have several fund managers or portfolios, we recommend opening multiple trading accounts (MTAs) under one FINI account for cost considerations.
To complete the tax agent appointment, inFINIty will submit the application form with notarized POA and documentation gathered from you. After receiving approval letter from Ministry of Finance, we will notify the relevant parties and your local custodian bank that we have officially been appointed as the tax agent for your FINI accounts.
It is not mandatory to appoint a tax agent in Taiwan before your first earning repatriation. However, to avoid the significant risks associated with potential tax non-compliance, we strongly recommend appointing a tax agent after the completion of FINI account’s registration.
Please share “latest FINI Name/Custodian Change Certificate” and your current service provider’s contact information with us. We will submit tax agent transferring application after we obtain notarized POA from you and required documentation from your current service provider.
Tax Reclaim/Relief at Source
You may refer to the list of countries covered under the ROC Double Taxation Agreements on the Ministry of Finance (MoF) website. If your fund is registered in one of the listed countries, you may be eligible to enjoy tax benefits through tax reclaim or relief at source applications. Please contact us if you are not sure your FINI accounts are eligible for tax benefits or not.
“Tax relief at source” refers to obtain approval letter and lower your tax rate during the specific period so that dividend or interest income is subject to a withholding tax rate lower than 21%, as reflected on the withholding tax voucher.
“Tax reclaim” refers to recovery your tax benefits after you received withholding tax vouchers with 21% tax rate applied. The application will generally take longer to review and approve by Taiwan Tax Authorities and their branches.
In addition, some of the required documentation differs depending on the application. We will provide a list of required documents for your easier reference after engagement.
Currently, Taiwan tax authorities only accept “tax reclaim” applications for ADR and GDR dividends and interest. The required documentation and involved parties are significantly more complex. We will provide clear instructions and maintain strong working relationships with all relevant parties to facilitate the process.
inFINIty will organize and maintain records of all approval letters received and provide weekly status report to reflect latest approved amounts for your records.
Coundn’t find an Answer?
How to Acquire Our Services
Get connected with us and schedule a consultation with our team to discuss your tax needs and requirements.
Review and sign the service agreement outlining the terms and fees associated with our services.
Gather and submit all necessary financial documents for our review and analysis.
Allow our professionals to execute the tax services as per the agreed timeline and scope.