Taiwan's Ministry of Finance has published guidance for foreign companies to apply in advance for the approval of the net profit ratio and domestic profit contribution ratio to calculate withholding tax at the time of payment, which reduces tax refund procedures for both tax authorities and taxpayers and alleviates tied-up capital issues caused by excess withholding. --- Foreign Profit-Seeking Enterprises May Apply in Advance for Approval of Net Profit Ratio and Domestic Profit Contribution Ratio for Income Calculation and Tax Withholding Based on the Prescribed Withholding Rate Foreign profit-seeking enterprises without fixed places of business or business agents in Taiwan,...