Further to the report on the capital gains draft amendment on 18 May 2012 on 25 July 2012, the Legislative Yuan passed the amendments to the Income Tax Act ("ITA") and the Income Basic Tax Act ("IBTA") on tax on capital gains from securities transactions, effective from 1 January 2013. The details of the amendments are summarised below. Corporate Shareholders Under the new rules, corporate shareholders are still subject to income basic tax on their capital gains from the sale of shares, but the tax rate is to be increased from 10% to 12% and the tax free threshold on...