The gift tax exemption applies to foreigners who gift domestic assets

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The National Taxation Bureau of Taipei, Ministry of Finance, stated that it often receives calls from citizens inquiring about the applicability of the gift tax exemption to foreigners who gift their assets within the territory of the Republic of China.

The Bureau explained that the applicability of the gift tax exemption prescribed in the Estate and Gift Tax Act is not restricted by the citizenship of the donor. It only specifies that the gift tax exemption may be deducted from the total amount of gifts for each donor. Therefore, foreigners who gift their assets within the territory of the Republic of China can also deduct the gift tax exemption from their total amount of gifts each year (NT$2,440,000 for 2024).

The Bureau provided an example: Foreigner Mr. A gifted his deposits amounting to NT$5,000,000, which are located within the territory of the Republic of China, to his son Mr. B on June 30, 2024. Since Mr. A did not engage in any other gift transactions during the year and the net gift amount was NT$2,560,000 (NT$5,000,000 – NT$2,440,000 for the gift tax exemption), the gift tax payable should be NT$256,000, calculated at a tax rate of 10%.

The Bureau reminded taxpayers to pay attention to tax laws and relevant regulations to protect their rights and interests. If you have any questions or are unfamiliar with taxation laws, you can call the free service hotline at 0800-000-321 or contact your local taxation bureau, where staff will be available to assist you.

(Contact Person: Subsection Chief Chen from the Comprehensive Income Tax and Estate and Gift Tax Section, Tel: 2311-3711 Ext. 1630)

Reference URL：https://www.mof.gov.tw/Eng/singlehtml/f48d641f159a4866b1d31c0916fbcc71?cntId=a3aef5262989405aa90607dac8907c4d