Not yet. I sent the British Office some more details a couple of weeks ago and they were still looking into it.
Didn’t get a direct response from HMRC - will chase up in a couple of days if still no answer.
Not yet. I sent the British Office some more details a couple of weeks ago and they were still looking into it.
Didn’t get a direct response from HMRC - will chase up in a couple of days if still no answer.
I guess the EU office is more like a ‘trading office’, not/less consular affairs.
yeah, but some “lobbying” would be appreciated. So long for EU nationals without representation here.
A post was merged into an existing topic: Take action against Taiwan bank tax residency tax certificates
I’ve just had a meeting with the Tax committee of the European Chamber of Commerce. After my e-mail a couple of weeks back, they discussed it with the co-chairs of the Better Living and Tax committees to see which would be most suitable and invited me to present the case at the Tax committee meeting today. The Better Living co-chairs and the CEO were also there, as well as several people working in the banking/finance sector.
I found it quite productive and was impressed with how seriously everyone seemed to be taking the issue. The domicile/residency topic became the main focus of the meeting and there were some useful insights.
It seems like they’re going to be making this a priority and bringing it up with various government departments. I explained what we’ve done so far with banks, the tax bureau, and @Mataiou’s complaint to the Control Yuan. Several approaches were discussed, like the unfair/discriminatory treatment of residents aspect under Article 62 and the non-discrimination clauses of Taiwan’s DTAs (which should apparently be addressed through the Department of International Fiscal Affairs). Everyone who spoke appeared to agree that this shouldn’t be happening, that foreigners should be able to be considered domiciled here, and that we shouldn’t be forced to make false CRS self-certifications.
There was some discussion of whether APRC holders should be the focus here, apparently because it might be an easier fight. I tried to push back on this because I think the solution should be broader than that as it affects ARC holders too. Let’s see.
Will give an update when I know more. ![]()
Remember to bring up the issue of compensation!
They need to compensate those wrongly taxed
very good, I have a friend working within the NDC who met also with the European chamber CEO and already discussed with them like 2 weeks ago. This interest is important as the Eurocham is the only other one with actual pressure capability like the Amcham, but Americans are not touched by this issue as they don’t have (yet) a DTA and fuck everyone up with their FATCA requirements.
LET’S KEEP PUSHING!
I think you’re talking about @fifieldt? He mentioned it on here too. ![]()
One of the co-chairs of the Better Living committee knew who you were too when I brought up the CY complaint. Looks like you’re getting yourself a reputation as a troublemaker. Good. ![]()
HAHAHA, I like to stir some shite haha.
It looks like the U.S. is planning to enter into a DTA with Taiwan.
It might be worth any Americans living here contacting their representatives to try and get the domicile/residence issue looked into early in the process. I guess that would be the American Institute and AmCham?
This section creates new section 894A of the IRC, providing substantial benefits to Taiwan residents (“qualified residents of Taiwan”), similar to those that are provided in the 2016 United States Model Income Tax Convention (“U.S. Model Tax Treaty”). The provisions fall into four primary categories: 1. Reduction of withholding taxes;
2. Application of permanent establishment (“PE”) rules;
3. Treatment of income from employment; and
4. Determination of qualified residents of Taiwan, including rules for dual residents.Since the application of these provisions requires full reciprocal benefits, the new tax code section does not come into effect until Taiwan provides the same set of benefits to U.S. persons with income subject to tax in Taiwan, similar to the reciprocal operation of a tax treaty.
Determination of qualified residents of Taiwan, including rules for dual residents
A “qualified resident of Taiwan” generally is any person who is liable for tax to Taiwan because of such person’s domicile, residence, place of management, place of incorporation, or any similar criterion, and is not a U.S. person. Additional rules are provided to determine whether certain dual resident individuals are treated as qualified residents of Taiwan. For corporations, a qualified resident of Taiwan must also meet one of the limitation on benefits tests to be a beneficiary of the provision.
One thing I might have asked, but I would love to bring up once again.
If I move to Taiwan from Singapore in March, in the moment I open the Bank Account, I am clearly not a Taiwanese tax resident - but since I will spend there more than 6 months in 2024, I will be one.
If I put “No” to Taiwanese Tax residency, and considering I am not a tax resident of my own country since 8 years ago (Italy), what should I put? Tax Resident of Singapore? Even I am clearly not a tax resident there anymore.
(I prefer to put Singapore than Italy considering how troublesome is to deal with the Italian Tax Office).
I currently have an HSBC account in SG and one in Hong Kong, linked.
Would HSBC in Taiwan be a good choice, considering I will keep majority of my savings outside of Taiwan?
Yes. I linked my HSBC HK account to my HSBC Taiwan account. I have Premier so free global transfers. Foreign currency to NT$ exchange rate is same as other banks. HSBC Taiwan will give you a better rate if you are transferring more then US$20,000 into NT$
Also better interest rate on fixed deposit. HSBC Taiwan offering 6% on US$50k or more but HSBC HK only 4.2%
Once you have an ARC then choose Taiwan as your tax residency.
Will they present me with the CRS form at the moment of opening?
I have a Gold Card, so I can force them to use Taiwan as Tax Residency from Day 1?
Thanks!
Wait, didn’t you move to Bangkok?
Too much grey area - even with the EOR… ![]()
Would also love to know this. I will go apply in 15 days. I’m also Italian, so I’d really like to avoid putting Italy as my tax residency.
Just … refuse. Do not offer your Italian tax ID and say you are not a Tax resident in Italy. If at first you do not succeed then visit another branch office and then another one. If all else fails, choose another bank.
Free global transfers to any bank or just HSBC banks?
Yeah that’s what I’m doing. Currently need proof of funds for a credit card application so transferring 3M here temporarily via global view, taking screenshot, then sending it back. All for free.
You might need an address first lol