Last updated: July 2026
Understanding money in Taiwan is relatively simple, but first-time visitors often have questions about cash, credit cards, ATMs, EasyCard payments and tourist VAT refunds.
This Taiwan currency and tax refund guide explains how to pay during your trip, where to exchange foreign currency, how much cash to carry and how to claim a Taiwan tax refund before leaving the country.
Whether you are visiting Taipei for a few days or joining a longer private tour around Taiwan, these practical money tips will help you avoid unnecessary fees and last-minute problems.
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Table of Contents
Taiwan Currency and Tax Refund: Quick Answer
Taiwan’s official currency is the New Taiwan Dollar, normally written as NT$ or TWD.
Cash remains useful at night markets, traditional shops, small restaurants and local markets. Credit cards are commonly accepted by larger hotels, department stores, shopping malls and chain businesses, but travelers should not rely entirely on cards.
Foreign visitors may qualify for a Taiwan VAT refund when they spend at least NT$2,000 at one authorized store on the same day and take the eligible goods out of Taiwan within 90 days. Taiwan’s VAT rate is 5%, although a processing charge is deducted from the refundable amount.
What Currency Does Taiwan Use?
Taiwan uses the New Taiwan Dollar.
You may see the currency displayed in several ways:
- NT$
- NTD
- TWD
- 元, the Chinese character commonly used for dollars
Official New Taiwan Dollar banknotes include:
- NT$100
- NT$200
- NT$500
- NT$1,000
- NT$2,000
Official coins include:
- NT$0.5
- NT$1
- NT$5
- NT$10
- NT$20
- NT$50
Most travelers will mainly handle NT$100, NT$500 and NT$1,000 banknotes, together with NT$1, NT$5, NT$10 and NT$50 coins. The NT$200 and NT$2,000 notes are valid but are less frequently seen in everyday tourist transactions. The Central Bank lists all official banknote and coin denominations currently issued in Taiwan.
Foreign currency is not normally accepted as payment by shops and restaurants. Prices are quoted in New Taiwan Dollars, so visitors should obtain local currency after arriving.
Is Taiwan Mostly Cash or Cashless?
Taiwan offers many electronic payment options, but it is not completely cashless.
Credit cards and mobile payments work well at many larger establishments. However, cash is still the safest payment method at:
- Night markets
- Traditional breakfast shops
- Small local restaurants
- Street-food stalls
- Traditional markets
- Independent shops
- Rural attractions
- Older parking facilities
- Some taxis
When visiting a night market, it is helpful to carry smaller NT$100 and NT$500 notes. Vendors may have difficulty changing an NT$1,000 note for a small purchase early in the evening.
For examples of places where cash is particularly useful, read our Ningxia Night Market food guide and 7-Eleven food guide for Taiwan.
How Much Cash Should You Carry in Taiwan?
The right amount depends on your itinerary and spending habits. As a practical starting point, many travelers can carry approximately NT$1,000 to NT$3,000 per person per day for meals, snacks, small purchases and transport that cannot be paid by card.
This is not a fixed daily budget. You may need more cash when visiting:
- Night markets
- Rural towns
- Mountain areas
- Traditional markets
- Small food stalls
- Local souvenir stores
- Attractions requiring cash admission
Avoid carrying all your travel money at once. Keep a reasonable daily amount in your wallet and store emergency cash separately.
Are Credit Cards Accepted in Taiwan?
International credit cards are widely accepted at larger businesses in Taiwan, particularly in Taipei, Taichung, Tainan and Kaohsiung.
Visa and Mastercard usually have the broadest acceptance. JCB, UnionPay and American Express may also be accepted, although coverage varies by merchant.
Cards are commonly useful at:
- International and larger local hotels
- Department stores
- Shopping malls
- Supermarkets
- Chain restaurants
- Larger souvenir shops
- Major tourist attractions
- Online ticketing platforms
Small businesses may display a card logo but require a minimum purchase amount. Ask before ordering when you are uncertain.
When a terminal gives you a choice between paying in your home currency or in TWD, selecting TWD will normally allow your own bank or card network to handle the conversion rather than using the merchant’s dynamic currency conversion rate.
It is also sensible to carry two cards from different banks in case one card is declined or temporarily blocked.
Can You Use Contactless Cards and Mobile Payments in Taiwan?
Contactless card payments are increasingly convenient in Taiwan. Apple Pay, Google Pay and other mobile wallets may work wherever the connected international card is accepted.
Taipei Metro now allows passengers to enter and exit using supported contactless bank cards, including Visa, Mastercard, JCB, UnionPay, Diners Club and Discover. Supported cards connected to Apple Pay, Google Pay or Samsung Pay may also be used.
Payment systems differ between cities and transportation operators, so visitors should not assume that the same contactless card will work on every bus, train or local transit system.
For detailed transportation instructions, see our guide to using the Taipei MRT.
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Should Tourists Buy an EasyCard?
An EasyCard is a stored-value card used for public transportation and small purchases.
It can be used across a wide range of transportation services, supermarkets, shops, food outlets, public facilities and leisure venues that display the EasyCard logo.
Tourists commonly use EasyCard for:
- Taipei Metro
- Selected local buses
- Taoyuan Airport MRT
- Taichung Metro
- YouBike
- Convenience stores
- Selected supermarkets
- Selected cafés and restaurants
- Lockers and vending machines displaying the EasyCard logo
EasyCard can be topped up at participating convenience stores and metro station information counters. The official EasyCard information confirms that top-up services are available at major convenience stores and station counters.
EasyCard is convenient, but it is not a replacement for cash or a credit card. Some businesses do not accept it, and the balance cannot be used everywhere.
Read our complete EasyCard Taiwan guide before your trip.
How to Withdraw Money from an ATM in Taiwan
ATMs are widely available at airports, banks, convenience stores, shopping centers and train stations.
Before inserting your card, check whether the ATM displays your card network’s logo. International withdrawal availability can vary by bank, machine and card issuer.
Follow these tips:
- Check your bank’s foreign withdrawal and currency-conversion fees.
- Make sure overseas withdrawals are enabled.
- Use ATMs located inside banks, airports or reputable convenience stores.
- Keep your receipt until the transaction appears correctly on your account.
- Decline optional home-currency conversion when the displayed rate is unfavorable.
- Withdraw a sensible amount instead of making many small withdrawals with repeated fees.
Your Taiwanese ATM provider and home bank may both charge fees. Review the amount shown on the confirmation screen before completing the transaction.
Where Should You Exchange Money in Taiwan?
Foreign currency can be exchanged at international airports and authorized banks.
Taoyuan International Airport provides currency-exchange services in its terminal facilities, including Bank of Taiwan counters in the arrival areas.
Exchanging a small amount at the airport is convenient when you need money immediately for transport, food or an EasyCard. Larger amounts can be exchanged later after comparing available rates.
You may need to show your passport when exchanging foreign currency at a bank.
Instead of publishing fixed exchange rates that quickly become outdated, check the official Bank of Taiwan foreign-exchange rate page before your trip. Bank of Taiwan publishes current cash-buying and cash-selling rates during and outside regular business hours.
Currency Exchange Tip
The “cash selling” rate is generally the relevant column when you are buying New Taiwan Dollars with foreign cash. Bank terminology may be confusing, so ask the counter staff to confirm how many New Taiwan Dollars you will receive before completing the exchange.
Keep your currency-exchange receipt in case you need it later.
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Can You Use US Dollars, Euros or Singapore Dollars in Taiwan?
Foreign currency is generally not accepted for ordinary purchases in Taiwan.
Hotels, restaurants, shops, taxis and attraction ticket counters normally require payment in New Taiwan Dollars or by an accepted card. Even when a tourism business displays an approximate price in USD, SGD or another currency, the final local transaction may still be processed in TWD.
Exchange foreign cash at an authorized counter or withdraw New Taiwan Dollars from an ATM rather than asking individual businesses to accept another currency.
🛍️ Shopping in Taiwan
Taiwan offers everything from night markets and independent design stores to luxury malls and large department stores.
Popular purchases include:
- Pineapple cakes
- Taiwanese tea
- Cosmetics and skincare products
- Electronics
- Stationery
- Cultural gifts
- Local fashion
- Ceramics
- Handmade products
For shopping ideas, read our guides to Taipei East District shopping and the best souvenirs to buy in Taiwan.
When making a larger purchase, check whether the store displays the official Taiwan Tax Refund or TRS label.
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Taiwan Tax Refund for Foreign Tourists
Taiwan allows eligible foreign visitors to apply for a VAT refund on selected goods purchased from authorized tax-refund stores.
The refund does not apply automatically to every purchase. The traveler, store, purchase amount and goods must meet the official requirements.
Who Is Eligible for a Taiwan Tax Refund?
Eligible applicants generally include foreign travelers who:
- Enter Taiwan using a passport from a country other than Taiwan
- Enter with an eligible travel document or entry permit
- Stay in Taiwan for no more than 183 days from their arrival date
- Purchase qualifying goods from an authorized TRS-labeled store
- Personally take the goods out of Taiwan
The Ministry of Finance confirms the maximum 183-day stay requirement and the approved categories of entry documents.
Taiwan Tax Refund Requirements
To qualify for a Taiwan tourist tax refund, you must generally:
- Spend at least NT$2,000 including VAT.
- Make the purchases at one authorized store.
- Make the purchases on the same day.
- Request the VAT refund application from the store.
- Take the eligible goods out of Taiwan within 90 days of purchase.
- Complete the required refund procedure before leaving Taiwan.
The NT$2,000 minimum applies to purchases from the same authorized store on the same day. Purchases from unrelated stores cannot be combined to reach the threshold.
Which Purchases Are Not Tax-Refundable?
The tourist tax refund applies to eligible goods that will be carried out of Taiwan. It does not normally cover services or products that have already been consumed.
The official tax-refund rules specifically exclude:
- Hotel accommodation
- Restaurant bills
- Duty-free goods
- Unaccompanied goods
- Goods that have been returned
- Goods that have been consumed or used before departure
- Items that cannot legally or safely be transported
Keep qualifying products and their packaging available in case customs asks to inspect them.
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How Much Is the Taiwan Tax Refund?
Taiwan’s VAT rate is 5%, but tourists do not receive a full 5% of the displayed VAT-inclusive purchase price.
The refund is calculated from the pre-tax value of the purchase. A processing fee equal to 20% of the refundable VAT amount is then deducted.
The approximate calculation is:
VAT refund before processing fee
VAT-inclusive purchase price ÷ 1.05 × 0.05
Approximate net refund
VAT refund before processing fee × 80%
This produces an effective net refund of approximately 3.81% of the VAT-inclusive purchase price, subject to official rounding rules.
Example: NT$10,000 Purchase
For an eligible NT$10,000 purchase:
NT$10,000 ÷ 1.05 × 0.05 = approximately NT$476
After the 20% processing fee:
NT$476 − approximately NT$95 = approximately NT$381
The final amount can differ slightly because of rounding.
💁🏻 3 Ways to Claim a Taiwan Tax Refund
1. Airport or Port Tax Refund
This is the most common method.
Travelers apply at the tax-refund kiosk or service counter before departure. You must complete the refund and possible customs-inspection process before checking in luggage containing the purchased goods.
The official tax-refund service recommends arriving at the airport or port approximately three hours before departure.
2. On-Site Small-Amount Tax Refund
Some authorized stores provide an immediate small-amount tax refund on the purchase date.
The purchase must generally be below NT$48,000 including VAT at one authorized store on the same day. Official cumulative limits also apply to on-site refunds during one visit and across multiple visits in the same year.
Ask the store staff whether on-site refund service is available before completing your payment.
3. Designated Downtown Tax-Refund Counter
Selected downtown locations provide tax-refund services before departure.
Applications are generally made within 20 days before leaving Taiwan. An eligible international credit card is required for a security deposit equal to 7% of the VAT-inclusive purchase amount.
You must still visit the airport or port tax-refund kiosk or service counter before departure to complete the required verification. Failure to complete the departure verification may result in the security deposit not being released.
Because this procedure is more complicated, many visitors choose an in-store small refund or complete the process at the airport.
✨ How to Claim Your Taiwan Tax Refund at the Airport
Complete the following steps before checking in luggage that contains tax-refundable goods.
Step 1: Prepare Your Documents
Bring:
- Your original passport or eligible entry document
- Original uniform invoices or e-invoices
- The Application Form for VAT Refunds
- The eligible purchased goods
The official procedure requires the original passport, invoices and VAT refund application form.
Step 2: Visit the Tax-Refund Kiosk or Counter
Scan or present your passport and tax-refund documents at the E-VAT refund machine or service counter.
Step 3: Check Whether Customs Inspection Is Required
The system will indicate whether your goods must be inspected.
When inspection is required, take the documents and purchased goods to the customs counter. Do not place the goods in checked luggage before completing this step.
Step 4: Complete the Refund
After approval, follow the instructions from the kiosk or counter to select an available refund method and collect or register the refund.
Step 5: Check In Your Luggage
Once customs and tax-refund procedures have been completed, you can place the approved goods in your checked luggage.
The official rules stress that travelers should complete the process before baggage check-in because customs may request to see the goods.
Can You Claim a Tax Refund at Taipei Main Station?
Eligible passengers departing through Taoyuan International Airport may be able to process a refund at the Airport MRT Taipei Main Station A1 on their departure date.
This option generally applies when the total eligible purchases during the visit are below NT$48,000 including VAT. It does not apply to amounts already handled through an on-site refund or other specified tax-deduction service.
Check the official Taiwan Tax Refund website before relying on this service, as operating procedures and eligibility may change.
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🚫 Common Taiwan Tax-Refund Mistakes
Avoid these common problems:
- Shopping at a store without the official TRS label
- Spending less than NT$2,000 at one store on one day
- Forgetting to request the refund form on the purchase date
- Losing the original invoice
- Packing the goods into checked luggage before customs verification
- Using or consuming the product before departure
- Arriving at the airport too late
- Assuming hotel or restaurant expenses are refundable
- Trying to apply after leaving Taiwan
A Taiwan tax refund must be completed during your stay and before departure. Applications submitted after leaving Taiwan are not accepted.
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📣 Plan Your Taiwan Trip with Local Experts
Understanding Taiwan’s currency and tax-refund procedures makes travel easier, but coordinating transportation, accommodation, attractions and shopping stops can still take considerable time.
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Taiwan Currency and Tax Refund FAQ
What is the best currency to take to Taiwan?
New Taiwan Dollars are required for most everyday cash payments. You can exchange major foreign currencies at the airport or authorized banks, or withdraw TWD from an ATM.
Can I pay with US dollars in Taiwan?
US dollars are not normally accepted by shops, restaurants, taxis or attraction counters. Exchange them for New Taiwan Dollars or use an accepted credit card.
Do I need cash in Taipei?
Yes. Credit cards and electronic payments are common, but cash remains useful for night markets, small restaurants, traditional shops and street-food vendors.
How much cash should I carry per day in Taiwan?
Approximately NT$1,000 to NT$3,000 per person per day is a practical starting amount for small purchases and cash-only expenses. Your actual requirement will depend on your meals, shopping and itinerary.
Can tourists use credit cards in Taiwan?
Yes. International cards are accepted by many hotels, malls, department stores and larger businesses. Carry cash because some small businesses and local vendors do not accept cards.
Can tourists claim a tax refund in Taiwan?
Eligible foreign travelers staying no more than 183 days may claim a refund on qualifying goods purchased from authorized stores. The minimum purchase is NT$2,000 at one authorized store on the same day, and the goods must leave Taiwan within 90 days.
Is the Taiwan tourist tax refund a full 5%?
No. The VAT rate is 5%, but the refund is calculated from the pre-tax purchase value. A processing fee equal to 20% of the refundable VAT is deducted, resulting in an effective refund of approximately 3.81% of the VAT-inclusive purchase price before rounding.
Are hotel and restaurant bills tax-refundable in Taiwan?
No. Hotel accommodation, restaurant bills and duty-free goods are not eligible under the foreign-tourist shopping VAT-refund program.
Should I claim my refund before checking in my luggage?
Yes. Complete the tax-refund and customs-verification procedure first because customs may ask to inspect your purchases. Check in the goods only after the process is finished.
Where can I check current Taiwan exchange rates?
Use the Bank of Taiwan foreign-exchange rate page. Avoid relying on fixed rates published in older travel articles because currency values change daily.
Final Thoughts
Preparing a mixture of cash, an international credit card and an EasyCard is the most practical payment strategy for most visitors.
This Taiwan currency and tax refund guide can help you pay confidently, avoid outdated exchange-rate information and complete your tourist VAT refund correctly. Keep your invoices, request the refund form at the store and complete all necessary procedures before checking in your luggage.
For a stress-free journey with private transportation and a customized itinerary, contact Justaiwantour to start planning your Taiwan trip.