question when I open a bank account in ROC they said something tax I will be charged twice as to ROC citizens…but later I can get the tax back or something? I forgot…do I get back all the tax or just 1x tax. Also if I own house here the tax will be twice I konw that but I think I can’t get it back? can someone clear this up for me…about taxes…and any way to reduce the tax? thanks a lot
I think this is something you need to contact the tax office about. I am not sure if the tax laws for the questions you asked would be different for foreigners and locals…
the bank withholds tax on your interest only. they mail you a “kou jiao pin dan” statement at the end of the year showing how much interest you made and how much they withhold, you are supposed to include the interest on your return as income, and record the tax already paid. if you wind up not owing tax the tax office will refund it. locals certainly do this too, don’t recall if they withhold at the same rate for foreigners though, maybe it is 6% for locals and 12% for foreigners hence the double.