The Taipei National Tax Administration (TNTA) issued a statement on 16 March 2012 that overpaid foreign tax cannot be claimed as a credit against tax payable in Taiwan if there is a failure to apply for tax treaty benefits on such income. A copy of the statement may be obtained from the website. The details of the statement are summarized as follows. Pursuant to article 3 of the Income Tax Act, a taxpayer is allowed to claim a credit for foreign tax paid on income derived outside Taiwan, upon the submission of supporting documentation when filing the final tax return. However,...