Each year, the Taishin Arts Awards recognize outstanding new works in the performing and visual arts. Dance, theatre, and music productions and visual arts exhibitions are reviewed based on their artistic originality and quality of presentation.The Taishin Arts Award is intended to enliven public awareness and participation in Taiwanese contemporary arts. 

The Taishin Arts Awards include two major awards (the Performing Arts Award, the Visual Arts Award) and one special prize (the Jury's Special Award). Winners of the Performing and Visual Arts Awards each receive NT $1 million, and the winner of the Jury's Special Award receives NT $300,000.

Who is eligible for the Taishin Arts Awards?
All performing arts productions, including music, theater, dance and visual arts exhibitions, which premiere in Taiwan (i.e. Taiwan, Penghu, Kinmen and Matsu) during the relevant calendar year are eligible for the Taishin Arts Award. Organization nominees shall hold a valid registration issued by the Taiwan government at the time of nomination. Individual nominees are required to hold Taiwan nationality or a valid Alien Resident Certificate at the time of nomination. Productions and exhibitions for school projects are excluded.

In order for the Taishin Bank Foundation for Arts and Culture to determine if an artist or arts organization is eligible for nomination for the Taishin Arts Award, all of the following requirements must be satisfied:

In Performing Arts:
The production or exhibition must premiere in Taiwan in the relevant year. Except for the music category, at least half of the performers and the production crew (including script writer, director and choreographer) should hold a valid Taiwan passport.

In Visual Arts:
The solo exhibition or group exhibition should officially open in Taiwan in the relevant year and at least half of the content should be new work. At least half of the curators (if more than one) should be Taiwanese nationals. This category includes virtual exhibitions.

The Selection Process
The Taishin Bank Foundation for Arts and Culture accepts applications of eligible groups or individuals. Candidates should also submit videos and photographic documentation of their exhibitions and performances.

Nomination
The Nomination Committee is divided into two groups: Performing Arts and Visual Arts. The foundation will notify the committee of eligible exhibitions and performances, and the ballot will be audited by the Foundation's lawyer.

Semi-Finalist Selection
The Taishin Foundation invites eminent local art critics, curators and scholars to form the Review Committee and continually reviews eligible productions and exhibitions throughout the year.  The committee is divided into Performing and Visual Arts groups, who write weekly reviews to be published in local magazines and newspapers.  At the end of the year, the committee selects the “Top Five Exhibitions” and the “Ten Best Productions.”

Final Selection
In order to select works that can compete in a world arena, the Taishin Foundation invites international professionals to join local jurors in the final selection. Juries of the Performing and Visual Arts each select one winner from the finalists of each category. The entire procedure is documented by video to reveal different points of view, and the compilation is released after the announcement of the winners.