Taiwan's VAT Act came into full effect at the start of 2020, requiring that B2C companies - those with no fixed place of residence in the country who sell digital goods or electronic services and whose annual sales exceed TWD 480,000 - are now required to issue Cloud Government Uniform Invoices. Non-compliance with new regulations can result in financial penalties and even with the termination of the company's activity in Taiwan.
Learn about the fiscal changes in this market from the attached resource and find out how 2Checkout can help you stay compliant if selling in Taiwan.
About 2Checkout (now Verifone)
Verifone is the payments architect shaping ecosystems for online and in-person commerce experiences, including everything businesses need - from secure payment devices to eCommerce tools, acquiring services, advanced business insights, and much more. As a global FinTech leader, Verifone powers omni-commerce growth for companies in over 165 countries and is trusted by the world's best-known brands, small businesses and major financial institutions. The Verifone platform is built on a four-decade history of innovation and uncompromised security, annually managing more than 12B transactions worth over $500B on physical and digital channels.
Verifone's 2Checkout platform is an all-in-one monetization solution helping clients drive global sales growth across online channels. Its digital services, including global payments, subscription billing, merchandising, taxes, compliance and risk, help clients stay focused on innovating their products while delivering exceptional customer experiences.
Get more information at 2Checkout.com
