In accordance with the【 Income Tax Act 】and 【Standards of Withholding Rates for Various Incomes】 of R.O.C. competition award shall be included as income and withheld.

Please refer below regulations and submit relevant documents as following for organizer’s declaration purpose.

1. Standard of Withholding

i.  Where a taxpayer is an individual residing within the territory of the Republic of China, or a profit-seeking  enterprise (and if stay in Taiwan more than 183 days) having its fixed place of business within the territory of  the Republic of China, 10% of amount which exceed NTD 20,000 is withheld.

ii.  Where a taxpayer is an individual not residing within the territory of the Republic of China, or is a profit-seeking enterprise not having any fixed place of business within the territory of the Republic of China, the withholding tax rate on cash awards or payments given in contests or prizes won by chance is 20%.

​For more details, please check the following file:

 http://www.worldgreenmech.com/images/FileUpload/118_2018%20World%20GreenMech%20Notice%20for%20Competition%20Award.pdf