Taiwan and Palau Strengthen Substantive Financial Cooperation through Multifaceted Exchange

During the visit of Palau’s Finance Minister, Kaleb Udui Jr., and his delegation to Taiwan, discussions were held regarding various aspects of fiscal and tax matters. One of the focal points was Palau’s comprehensive tax reform, including the implementation of a value-added tax (VAT) and corporate income tax. The delegation engaged with Taiwan’s tax authorities and tax bureaus to exchange knowledge and experiences on VAT policies and practices. Additionally, they visited the Financial Information Center to learn about Taiwan’s tax information system and the utilization of emerging technologies for enhancing tax administration and service efficiency. The visit also involved discussions on digital residents, digital government, financial technology, electronic payments, online banking, and information security. These engagements aim to deepen the substantive cooperation between the two countries and achieve sustainable fiscal goals within the framework of their fiscal cooperation agreement.

Source: mof.gov.tw

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