| Legislative： |
1.Promulgated on June 20, 1998
2.Articles 1 and 2 Revised on 14 December 2005 by government decree Hua-tzung-1 Yi No. 09400199331
3.Amended on August 06, 2008 |
| Content： |
Article 1
Trading of futures within the Republic of China shall be subject to futures transaction tax
in accordance with the provisions of this Act.
Article 2
The buying and selling parties of a futures transaction shall each be levied futures transaction tax at the following rates:
1.Stock index and single stock futures contracts: Futures transaction tax is levied per transaction at a rate of not less than 0.0000125% and not more than 0.06%, based on the value of the
futures contract.
2.Interest rate futures contracts: Futures transaction tax is levied per transaction at a rate of not less than 0.0000125% and not more than 0.00025% based on the value of the futures contract.
3.Option contracts or option contracts on futures: Futures transaction tax is levied per transaction at a rate of not less than 0.1% and not more than 0.6%, based on the premium paid.
4.Other futures contracts: Futures transaction tax is levied per transaction at a rate of not less than 0.0000125% and not more than 0.06%, based on the value of the futures contract.
The applicable rates in the subparagraphs of Paragraph 1 shall be set respectively by the Ministry of Finance (hereinafter referred to as the MOF) subject to
the approval of the Executive Yuan.
In a futures contract where the buyer and seller settle by the difference in value upon or before the expiration of the contract, the futures transaction tax payable by each shall be levied
based on the settlement price in the market at the rates provided in the following regulations:
1.Option contracts or option contracts on futures regulated in Subparagraph 3, Paragraph 1 shall be levied at the rates of Subparagraph 1, 2 or 4 of Paragraph 1 according to kind.
2.Futures contracts regulated in the Subparagraph 1, 2 or 4 of Paragraph 1 shall levied at the rates of that subparagraph.
Article 3
Futures transaction
tax shall be collected by the futures commission merchant (FCM) on the day the transactions occurred at the tax rate specified
in the preceding article and paid to the national treasury on the following day along with a filled-in payment slip.
The collecting agent shall produce a list or digital data
for each day transactions recording the names and addresses of the traders, types, volume, and amount of contracts traded, and
the amounts of tax collected, and file the same with the competent
tax authority by the fifth day of
the month following the month that the transactions occurred.
Article 4
A collecting agent that fulfills its collection
obligations in compliance with the statutory procedure and time limit is entitled to a reward, payable by the
competent tax authority, equal to one thousandth of the tax collected
by the said agent, up to a maximum of NT$24 million in reward per agent each year.
Article 5
If a collecting agent fails to fulfill its obligation to collect futures transaction tax or under-collects the tax, the competent tax authority
may order the said agent to pay any back taxes and impose a fine of not less than 10 and not more than 30 times the amount of uncollected tax.
A collecting agent that fails to file the futures transaction list or digital data with the competent tax authority, or files a fraudulent list in violation of Paragraph
2, Article 3 of this Act, shall be subject to a non-reporting surcharge of not less than NT$15,000 and not more than NT$30,000.
Article 6
A collecting agent that fails to surrender the futures transaction tax collected within the time limit specified in
Paragraph 1, Article 3 herein shall be subject to a belated surcharge.
Article 7
The futures transaction tax is a national tax,
and will be collected by the
competent tax authority under the
MOF.
Article 8
This Act shall be implemented upon promulgation. |