Taiwan tax updates and saving opportunities for foreign expatriates

After the amendment to the Income Tax Act on 18 January 2018 to individuals (both for tax residents and non-residents in Taiwan) for the reduction of the highest income tax rate from 45% to 40%, two alternatives for dividend income taxation for residents, and an increase in the withholding tax on dividends received by non-residents from 20% to 21%, etc., the Ministry of Finance further announced an amendment to include a new category of tax deductions for basic living expenses. The proposal may likely be retroactively applied to 2018 tax year. Additionally, the Taiwan authority has announced the Act for the Recruitment and Employment of Foreign Professionals effective from 2018 in order to encourage foreign professionals to work in Taiwan in the face of fierce international competition for skilled professionals. Measures include income tax incentives for foreign special professionals. Join us in this session as we learn more about the updates in Taiwan and how they may affect your organization. (Live presentation was aired on 16 Oct 2018) http://www.deloitte.com/ap/dbriefs