NTBT offers cross-border remittance service, and as of today foreign taxpayers can start using this new method to pay their individual income tax.
If a foreign taxpayer needs to transfer money from abroad to pay his/her tax due or fine, he/she can request the “Individual Income Tax Payment via Cross-border Remittance Application form”（Annex 1）from the Foreign Taxpayers Section of NTBT. After filling out the form, he/she has to submit the form to the Foreign Taxpayers Section by mail or fax, and follow the instruction manual: “Cross-Border Remittance Instruction for Foreign Taxpayers” （Annex 2）to transfer the appropriate amount into NTBT's designated bank account, opened at Bank of Taiwan Cheng Chung Branch, (account No.045036070222).
And, if a foreign taxpayer utilizes the cross-border remittance to pay his/her tax, the transaction date will be deemed to be the payment date and “the actual payment amount” = foreign remittance × the spot exchange rate for converting the foreign currency into new Taiwan dollars on the transaction date, all necessary service charges. If any amount difference generated between “the actual payment amount” and the actual tax due or fine (underpayment or overpayment), NTBT will inform the taxpayers for subsequent supplementary tax or tax refund.
We would like to remind foreign taxpayers that when they choose to use the cross-border remittance service, they have to cover the service charge from both the outward remittance bank and the beneficiary bank, as well as any possible foreign exchange loss by themselves. Therefore, foreign taxpayers are welcomed to take advantage of this new tax payment method, as long as they consider it cost-effective.
Annex 2: Cross-border Remittance Instruction for Foreign Taxpayersa [PDF]