Steep Growth Rate Projected For 2021 The Directorate-General of Budgeting, Accounting and Statistics has forecast economic growth of 5.88% for this year, which would be the highest growth rate Taiwan has achieved in 11 years. The private Chung-Hua Institution for Economic Research (CIER) announced a forecast of just a slightly lower 5.84%. In another strong…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Technology Parks Report Record Gains According to the Ministry of Economic Affairs’ Export Processing Zone Administration (EPZA), the acceleration of emerging technology applications and strong demand for chips brought about by the COVID-19 pandemic has raised the revenue…
For a variety of reasons, Singapore and Hong Kong can manage just fine with significantly lower tax rates. Over the years, the business community has made the case that Taiwan’s steep personal income-tax rates discourage the recruitment and retention of outstanding skilled professionals, both foreign and local. Often these individuals opt to live and work…
The proposed new legislation would make tax and other incentives available to international talent. To remedy the serious brain drain in Taiwan and counter aggressive talent poaching by neighboring countries, the government has proposed legislation to help attract and retain foreign white-collar workers. The main provisions would relax current restrictions on the hiring of…
ASE-SPIL Saga Enters New Phase Advanced Semiconductor Engineering Inc. (ASE), the world’s largest semiconductor chip packaging and testing company, on December 22 launched an NT$42.35 billion (US$1.28 billion) tender offer for another 24.7% stake in rival Silicon Precision Industries Corp. (SPIL). ASE already acquired 25% of SPIL in September and is looking to increase its…
One of the recent issues of concern to the AmCham Taipei Insurance Committee, as discussed in Suggestion 2 of the 2015 Taiwan White Paper, has been the increase in the business tax for financial institutions that took effect in July 2014, raising the rate from 2% to 5%. For insurance companies, the tax is levied…
