| |||
September 11, 2019 Taiwan issues new VAT ruling for transfers of renewable energy certificates Taiwan’s Ministry of Finance issued Tax Ruling No. 1080054900 (the Tax Ruling) relating to Article 1 of the Value-added and Non-value-added Business Tax Act (the VAT Act) on 26 August 2019. The Tax Ruling states that the transfer of renewable energy certificates (RECs) should be treated as a sale of services, resulting in the transaction being subject to value-added tax (VAT). The Tax Ruling applies to all transfers of RECs, including transfers occurring prior to the release of the Tax Ruling.
Endnote 1. They are also owners of the facilities and generate the power for their own use. For additional information with respect to this Alert, please contact the following: Ernst & Young (Taiwan), Taipei
Ernst & Young LLP (United States), Asia Pacific Business Group, New York
ATTACHMENT | |||
|