Taiwan approves VAT refund for foreign businesses

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The Taiwanese Government will allow foreign enterprises and entities from the MSAR and Hong Kong to obtain value added tax (VAT) refunds for temporary business and exhibition activities, according to the National Taxation Bureau of Taipei, Ministry of Finance (NTBT).
According to new regulations overseas institutions, associations and organisations with no fixed business in the country and that organise exhibitions or temporary business activities in Taiwan will be able to claim a refund for VAT paid on goods and services purchased during their stay if they reach a minimum spending of NT$5000 (MOP1,296/US$162) for each fiscal year.
In order to apply for the VAT refund overseas entities will have to follow specific requirements, such as having no fixed place of business in Taiwan, and entities must be registered in their respective region of origin, unless regulations in their respective countries exempt them from doing so.
The VAT refund will only be applicable to goods or services purchased for participation in exhibitions or temporary business activities and for use in their business operations, and will only apply to specific countries and regions that also offer similar tax exemptions as Taiwanese companies and entities.
The refund will also be available to Middle Eastern countries Qatar, Saudi Arabia, Bahrain, Kuwait and Israel plus European countries Germany, Switzerland, Austria, Finland, France, Ireland, United Kingdom, Slovenia, Belgium and Liechtenstein in addition to Australia.