Taiwan Stock Exchange

www.twse.com.tw  

Tel : 886.2 8101 3101

Fax : 886.2 8101 3324

 

Representatives

Chairman : Mr. Shuh-Der Lee

President : Mr. Michael Lin

 

Types of Securities Traded

Name of Trading Systems (cash and derivatives)

Trading Hours

Stocks
Bonds
Beneficiary Certificates
Warrants
Depositary Receipts
ETFs

REITs

FAST (Fully Automated Securities Trading System)

Mon. - Fri. :
9:00 - 13:30

 

 

Supervisory Body

Financial Supervisory Commission (FSC) - Securities and Futures Bureau

Name of Clearing & Settlement Organization

1. TWSE is in charge of clearing;
2. The operation of cash settlement is carried out by the Central Bank of the Republic of China (Taiwan); and
3. Taiwan Depository & Clearing Corporation (TDCC) is entrusted by the TWSE to handle securities settlements.
 

Settlement Cycle

T + 2

Name of Central Securities Depository

Taiwan Depository & Clearing Corporation

Commissions on Transactions levied by Exchange

TWSE levies a handling fee of 0.0052% on the total trading value of all brokers. A transaction tax of 0.3% is levied from the sale of shares; currently, there are no transaction taxes on commercial bonds, government bonds, financial bonds, and REITs, and 0.1% is levied from the sales of warrants, DRs, beneficiary certificates, and ETFs. In the case of cash settlement of warrants, 0.3% of the market price is levied from the holders;  as t o securities settlement of warrants, 0.3% of  the exercise price is levied from the issuers, and there are no transaction taxes levied on the holders.

 

Taxes on Dividends, Interests

Cash Dividends    Resident Beneficiary: Dividends are included in consolidated income.

Non-resident Beneficiary: generally 20% withholding tax

 

Interest Income     Resident Beneficiary: generally 10% withholding tax

Non-resident Beneficiary:

  (1)For interest distributed from beneficiary securities or asset-backed securities issued in accordance with the Financial Asset Securitization Act or the Real Estate Securitization Act, 15% of the distribution is withheld.

(2)For interest on government bonds, corporate bonds, or financial bonds, 15% of the payment is withheld.

 

Individual resident beneficiary:

From 2015, 0.1 % is charged on capital gains from transactions of more than NT$1 billion or 15% on capital gains from offsetting between profits and losses.

 

From 2013, 15% on capital gains from offsetting between profits and losses for selling any IPO shares other than underwriting, or more than 10,000 IPO shares by underwriting, and if  the beneficiary holds the shares more than 1 year, the tax rate reduces to 7.5%; more than 3 years, the tax rate reduces to 3.75%.

 

Share ownership thresholds (%)

10% (Please refer to the Securities and Exchange Act, Article 22-2 & Article 43-1.)

Short selling (Yes / No)

Yes

Short selling conditions (if any)

Short selling of specific stocks* is exempted from the local up-trick rule, which requires short sales to take place at no lower than the previous day's closing price.
However, investors should check with their brokers to see if any quota is available before conducting short selling.

 

* Please see this link for further details - http://www.twse.com.tw/en/trading/SBL/TWTACU/TWTACU.php

Holiday
1st January
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This page was last updated on: 11/18/2013 - 11:11