Taiwan Stock Exchange
Tel : 886.2 8101 3101
Fax : 886.2 8101 3324
Chairman : Mr. Shuh-Der Lee
President : Mr. Michael Lin
Types of Securities Traded
Name of Trading Systems (cash and derivatives)
FAST (Fully Automated Securities Trading System)
Mon. - Fri. :
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.
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
(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)
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