Taiwan has made moves in recent months to enhance recruitment of and facilitate entry and stay in the country by foreign professional talent.
“The Act for the Recruitment and Employment of Foreign Professionals” (“the Foreign Talent Act”) was enacted in 2018 and further amended in respect of certain incentive measures late in 2021. In addition, under tax ruling No. 09600511821,1 certain payments made by the Taiwan employer on behalf of the qualified foreign professional may be excluded from the taxable income of such individual.
In this GMS Flash Alert we briefly explain who qualifies for the incentives put in place by the government and what is required to benefit from the tax exemptions and other incentives for the employee as well as the employer.