National Taxation Bureau of the Northern Area, Ministry of Finance indicated that, according to Article 22 of the  Estate and Gift Tax Act, an annual exemption of $2,440,000 may be deducted from total amount of gift for each donor (applicable to gift cases occurring from Jan. 1, 2022).
     The Bureau further stated that the annual gift tax exemption for “each person” is $2,440,000, which refers to the “donor” rather than the “donee.” That means, from Jan.1 to Dec. 31 of each year, no matter how many people receive gifts, as long as the total amount gifted by one donor does not exceed $2,440,000, the gift tax will be exempted. This year (2023) is coming to end, please make good use of the annual gift tax exemption.
If you have any further questions, please call the toll-free number 0800-000-321. The Bureau will assign a professional to serve you.

Contact: Ms. Yang, Head, Individual Income, Estate and Gift Tax Division
Telephone: (03)3396789 Ext.1420