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Grand Prize: TWD 190,000
Second Prize: TWD 76,000
Third Prize: TWD 38,000
T & C apply: https://ieltsprize.takeielts.britishcouncil.org/terms-and-conditions/
According to Ministry of Finance's Standard Withholding Rate of Various Income Regulation, for prizes or payment from contests and games won by chance, if the amount or value of the prizes is between NT$1,001-$20,000, the winner shall be exempted from tax being withhold. Winners of prizes or awards worth more than NT$20,000 must pay 10% withholding tax in accordance with the tax laws before they can receive their prizes. (20% for individuals not residing in the R.O.C.). All winners are required to provide a copy of their personal identification card and mailing address for the British Council to process the withholding payment, and the British Council will send the winner a withholding voucher or exemption voucher in the following year to file the annual income tax return.