{"id":24880,"date":"2019-06-07T00:42:27","date_gmt":"2019-06-07T00:42:27","guid":{"rendered":"http:\/\/asiallians.com\/zh-hant\/taiwan-legal-update-taiwan-ranked-16th-imd-world-competitiveness-ranking-taiwan-power-co-settlement-certis-group-teams-taiwanese-universities\/"},"modified":"2019-06-18T04:13:46","modified_gmt":"2019-06-18T04:13:46","slug":"taiwan-legal-update-taiwan-ranked-16th-imd-world-competitiveness-ranking-taiwan-power-co-settlement-certis-group-teams-taiwanese-universities","status":"publish","type":"post","link":"https:\/\/asiallians.com\/zh-hant\/taiwan-legal-update-taiwan-ranked-16th-imd-world-competitiveness-ranking-taiwan-power-co-settlement-certis-group-teams-taiwanese-universities\/","title":{"rendered":"Taiwan Legal Update: Land Purchases & Tax Incentives for High Earners"},"content":{"rendered":"

[vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”center” background_image_as_pattern=”without_pattern” padding_top=”50″ padding_bottom=”50″ css_animation=””][vc_column css=”.vc_custom_1517373139965{background-image: url(http:\/\/asiallians.com\/wp-content\/uploads\/2018\/01\/Picture1.png?id=18554) !important;}”][vc_empty_space][vc_column_text]Ministry of Finance outlines Tax Incentives for High Earners<\/span><\/strong>[\/vc_column_text][vc_empty_space height=”70px”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” padding_bottom=”100″ css_animation=””][vc_column][vc_column_text]To enhance international competitiveness and move towards internationalization, the government awards considerably preferential taxation measures to high-earning foreign professionals working in Taiwan. Such incentives are known as \u201cForeign Professional Tax Incentives\u201d.<\/p>\n

The Southern District Internal Revenue Service Office suggests that the scope of application is limited to the provisions of the individual employment contract. If an employer pays for a foreign professional and their relative’s travel, rent, household bills, cleaning, and telephone charges, the income of the foreign professional is not included in the taxable salary (i.e., it is regarded as tax-free income) and the profit-making business can be accounted for.<\/p>\n

The Institute pointed out that professionals outside the scope of application mentioned above are limited to 18 jobs, such as camping, transportation, finance and real estate brokerage. This applies to those currently in Taiwan, but holders of Taiwanese nationality cannot apply.<\/p>\n

The Institute particularly emphasizes that foreign professionals must be in Taiwan for a total of 183 days during the year of assessment and earn a domestic and overseas salary of NT$1.2 million or more. If the employer is approved by the Ministry of Finance of China, the amount of taxable funds for the whole year is not restricted.<\/p>\n

(MORE INFORMATION<\/a>)[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”center” background_image_as_pattern=”without_pattern” padding_top=”50″ padding_bottom=”50″ css_animation=””][vc_column css=”.vc_custom_1517373139965{background-image: url(http:\/\/asiallians.com\/wp-content\/uploads\/2018\/01\/Picture1.png?id=18554) !important;}”][vc_empty_space][vc_column_text]Land Purchases soar in Taiwan, according to CBRE<\/span><\/strong>[\/vc_column_text][vc_empty_space height=”70px”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” padding_bottom=”100″ css_animation=””][vc_column][vc_column_text]CBRE Taiwan launched an evaluation and advisory service to advance in the local market.<\/p>\n

Data compiled by CBRE indicate that in the first four months of 2019, local commercial and land deals rose to NT$119.3 billion (US$3.8 billion), up 70% from last year, countering a slowdown in GDP growth at internally and overseas. The rise in land purchases for the construction of plants or office buildings for factory use in rural areas is in part due to returning Taiwanese firms returning to invest in Taiwan. According to CBRE, this has boosted the demand for land suitable for industrial use.<\/p>\n

For the past 10 years, Taiwan’s transactions of land for industrial use peaked at NT$46.8 billion in 2016 but fell to NT$26.9 billion in 2017 and NT$20.3 billion in 2018. Additionally, in 2018, transactions for factories and office buildings reached NT$58.5 billion, up 88.1%\u00a0 from the previous year upon the return of Taiwanese firms.<\/p>\n

CBRE Taiwan aims to facilitate revenue growth and extend the services offered in Taiwan, according to Tom Edwards (the head of CBREs global valuation and advisory services).<\/p>\n

The expansion in Taiwan will take advantage of its position in the heart of Asia, providing comprehensive services in every market in North Asia.<\/p>\n

CBRE Taiwan appointed Winston Shih as director to localize its business and Jonson Lee as the associate director.<\/p>\n

Shih has expressed the need to meet the demand for evaluation and advisory services in Taiwan. The use of technology in property is increasing, as digital reforms have accelerated globalization and continue to do so. They have also increased accountability and transparency in property deals. CBRE Taiwan has suggested that they will use technological innovations such as artificial intelligence and big data but promise they will not abandon all traditional approaches. The 2018 PwC Artificial Intelligence (AI) Study shows that AI will become the world\u2019s largest source of business opportunities in 2030. This new investment could prove beneficial to Taiwan\u2019s AI capability.<\/p>\n

(MORE INFORMATION<\/a>)<\/p>\n

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Feel free to contact asiallians@asiallians.com<\/strong><\/a> for more information.<\/p>\n

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On November 11th, 2015, the sales volume of Taobao (a B2C platform owned by Alibaba Group) reached CNY 91.2 billion (around 14 billion USD), with around 680 million online deals completed and the packages delivered all across the country.<\/p>\n","protected":false},"author":5,"featured_media":20948,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[171],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n\t\n\t\n