foreign bank asking for tax id

Business Money
1

Hi All,

I am in the process of opening a bank account with TD Direct International, they are asking me to provide them with my Taiwan Tax ID number or confirm that I don’t have one.

Basically my question is, why would they need my Taiwan tax id? As far as I know Taiwan doesn’t tax on foreign earned income.

In this case would you provide the id number or just confirm you don’t have one?

Thanks

2

Any interest is taxable.

3

Isn’t any interest/dividend earned taxed at the source through withholding tax?

4

They tax whatever interest you earn from money present in their accounts, and issue a receipt to you around tax time and send the info to the tax office as well.