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  • Taiwan debates over menstrual products tax exemption

    Explore the debate in Taipei as lawmakers advocate for sales tax exemption on menstrual products, facing opposition from the Ministry of Finance over concerns of insufficient consumer benefits and potential NT$380 million annual revenue loss. Amidst discussions on gender wage gaps and period poverty, the ministry highlights the challenges of tax exemption policies and the broader implications for the tax system.
    2024/04/10 13:43
  • China Airlines launches massive recruitment drive for 2024

    China Airlines announces its 2024 recruitment plan, aiming to hire nearly 100 professionals in various fields including customer service, finance, IT, and maintenance, alongside continuous pilot recruitment. Applicants must meet specific educational and English proficiency requirements, with successful candidates undergoing rigorous training programs before reporting for duty.
    2024/04/08 17:08
  • Taiwan hosts 2024 SCSE, showcasing global innovations

    The 11th Smart City Summit and Expo (SCSE) in Taipei, Taiwan, has successfully kicked off, featuring a wide array of exhibitors and international guests focused on smart city innovations and net-zero solutions. The event underscores Taiwan’s leading role in ICT and green transformation, setting a new attendance record and highlighting the importance of global cooperation in achieving net-zero goals.
    2024/03/19 17:10
  • Taiwan to host gender equality week in NYC

    MOFA announces Taiwan Gender Equality Week in New York City during the United Nations’ Commission on the Status of Women. Highlighted by a forum on women’s financial resilience featuring Dr. Hank C.C. Huang. Notable attendees include Denise Scotto and Kelley Currie. Event to be live-streamed on MOFA’s social media channels.
    2024/03/07 16:21
  • Taiwan’s economic shows stability: NDC

    Stay updated on Taiwan’s economic progress as the National Development Council reports a stable outlook for January 2024. Economic indicators show positive trends in production, investment, sales, and finance, signaling continued recovery. Follow the transition from recession to a transitional economy in key sectors, reflecting a promising shift in Taiwan’s economic landscape.
    2024/03/04 18:06
  • KMT, DPP split Legislative Yuan committee leadership

    The results of the Legislative Yuan’s standing committee convener election were announced, with both the Kuomintang (KMT) and the Democratic Progressive Party (DPP) securing one seat each in the eight committees. Huang Kuo-chang of the Taiwan People’s Party (TPP) expressed support for KMT’s convener candidates, while KMT’s Fu Kun-chi revealed TPP did not nominate any candidates. The committees cover Home Affairs, Foreign Affairs, Economic Affairs, Finance, Education, Transportation, Judiciary, and Sanitation.
    2024/02/29 12:04
  • Taiwan’s exports hit top-three record despite 2023 dip

    Taiwan’s export performance reached a historic high from 2021 to 2023, but experienced a 9.8% decline in 2023 compared to the previous year, according to the Ministry of Finance. Despite this setback, exports to the U.S. continued to soar with a 49.7% year-on-year increase, while exports to countries covered by Taiwan’s New Southbound Policy also saw significant growth. However, exports to mainland China decreased to 35.2%. Taiwan’s total export tally for 2023 amounted to US$432.48 billion, ranking behind only 2022 and 2021. The demand for communications and electronic products during the pandemic-induced work-from-home trend boosted Taiwan’s exports. The Taiwan Institute of Economic Research predicted significant international trade growth in 2024, which would benefit export-oriented economies like Taiwan. In December 2023, Taiwan’s exports to the U.S. reached $8.49 billion, and exports to southern countries surged by over 50%. However, due to the limited coverage of free trade agreements (FTAs), many traditional Taiwanese industries chose to restructure risks and production in Southeast and South Asia. The return of Taiwanese businesses and the expansion of local factories after the U.S.-China trade war, as well as global economic circumstances, significantly impacted the decline in 2023 exports. The Directorate General of Budget, Accounting and Statistics (DGBAS) estimated the first-quarter export volume for 2024 to be around US$106.1 billion, which is an improvement compared to the same period in 2023, but a 10% decrease from 2022.
    2024/02/15 10:49
  • Tuvalu to reconsider Taiwan ties post-election: Official

    Tuvalu’s Finance Minister Seve Paeniu has stated that the nation will review its diplomatic relationship with Taiwan following its recent election. Concerns have been raised regarding the bilateral relationship with Taiwan and the security and migration pact with Australia. This marks the first time a Tuvaluan official has suggested the possibility of abandoning its diplomatic ties with Taiwan, which have been in place since 1979, and switching allegiance to Beijing. The decision will depend on which partner country can support Tuvalu’s developmental priorities and expectations.
    2024/01/24 12:45
  • 蘋果奪下最有價值品牌寶座 輝達163%漲幅成全球最快

    英國專門為品牌規畫行銷的顧問公司「Brand Finance」近日公布2024年的「最有價值品牌排名」,其中蘋果公司(Apple)順利擊敗微軟(Microsoft)、谷歌(Google)和亞馬遜(Amazon)等公司、奪下冠軍寶座,電動車品牌特斯拉(Tesla)則跌出前10名,另外值得注意的是前25名中就有7家中國品牌。
    2024/01/18 11:14
  • NCKU tops most favored university list by companies in 2024

    National Cheng Kung University (NCKU) has been named the top university in the ’Most Favored University Among Companies 2024’ survey by Cheers Magazine. The top ten universities include NCKU, National Taiwan University, National Tsing Hua University, National Chengchi University, National Yang Ming Chiao Tung University, National Taiwan University of Science and Technology, National Sun Yat-sen University, National Central University, National Taipei University of Technology, and Tamkang University. In terms of private universities, Tamkang University ranks first, followed by Fu Jen Catholic University, Chung Yuan Christian University, Feng Chia University, and Soochow University. The survey also revealed a significant increase in the number of professional and technical institutes among the top 30, surpassing general private universities. Minghsin University of Science and Technology and Wenzao Ursuline University of Languages experienced the largest climb in rankings, closely monitored by the semiconductor industry. Notably, National Chengchi University excelled in the high-tech services industry, while Soochow University stood out in the finance industry as the only private university in the top five. The survey, conducted by Commonwealth Magazine, gathered data from 2,000 major companies’ HR departments and received a response rate of 30.39%.
    2024/01/17 14:54
  • China rebukes Philippines over Taiwan election congrats

    The Ministry of Foreign Affairs of China objected to Philippine President Ferdinand Marcos Jr.’s congratulatory message to President-elect Lai Ching-te, citing a violation of the "One China" principle and the diplomatic tie agreement between China and the Philippines. China’s Foreign Affairs office expressed strong dissatisfaction with Marcos Jr.’s remarks and lodged a vehement protest. An assistant minister of the Agricultural Finance Ministry summoned the Philippine ambassador to China over the matter. China urged the Philippines to refrain from making erroneous statements and actions regarding Taiwan and to respect the "One China" principle in order to maintain robust and stable China-Philippine relations.
    2024/01/16 19:01
  • New tax structure aims to ease burden for low-income groups

    The Taiwanese government has optimized the income tax system, allowing certain individuals and families to be exempt from income tax. Single individuals renting housing with a yearly income below NT$626,000 will not have to pay individual income tax when filing next year. Additionally, families with two parents and two young children and an annual income below NT$1.641 million will also be exempt. Approximately 47% or 3.05 million Taiwanese households were exempt from income tax in 2021 due to the optimized scheme, which includes increased deductions. Minister of Finance Chuang Tsui-yun clarified that this exemption is not due to poverty. The deductible amount for single individuals renting outside their home area making less than NT$626,000 could exempt them from taxes. For two-income families renting a house, the deductible amount on income tax could reach NT$1.072 million, while a family of four with two children under six could deduct up to NT$1.641 million. If they live with seniors aged 70 or older, the deductible amount could exceed NT$2 million.
    2024/01/05 18:28
  • China’s tactics to sway Taiwan votes exposed by envoy

    China’s alleged interference in Taiwan’s 2024 presidential election has been highlighted by Taiwan’s Representative to Australia, Douglas Hsu. In an article published in the Australian Financial Review (AFR), Hsu cited instances where China’s Central Propaganda Department ordered Taiwanese band Mayday and South Korean singer Tzuyu to publicly endorse Beijing’s view on Taiwan’s status. The AFR report emphasizes that China has been interfering in Taiwan’s elections since 1996, using tactics such as military exercises, economic threats, and disinformation campaigns. Hsu noted that Chinese President Xi Jinping’s recent New Year’s address, asserting the "inevitable historical trend" of reunification, only strengthens Taiwanese people’s desire for self-determination. Hsu expressed confidence in the Taiwanese people’s ability to discern harmful influences and make their own choices. The AFR, a prominent Australian newspaper specializing in international economics, finance, and politics, published the article.
    2024/01/04 14:39
  • Ko Wen-je’s unconventional approach in presidential race

    In the closely contested 2024 presidential election in Taiwan, TPP candidate Ko Wen-je adopts unconventional strategies, focusing on online campaigns and youth participation, challenging the traditional approaches of the KMT and DPP.
    2023/12/27 18:23
  • Lai Ching-te’s property ownership deemed legitimate

    Taiwan’s Ministry of Finance clarifies that the property at Lai Ching-te’s permanent residence was not illegally transferred from public to private ownership. The Finance National Property Administration states that land registry data show the property has always been privately owned and has no record of being expropriated from state ownership. Accusations of profiteering corruption against Lai by former legislator Chiu Yi and media personality Mao Chia-ching are refuted by the FNP, which reiterates that the land has been privately owned since 1940 with no records of state ownership or transfer.
    2023/12/26 22:18
  • EVA Air announces record 6-month year-end bonus

    EVA Air, a Taiwanese airline, has announced a record six-month year-end bonus, the highest since its establishment. The bonus will also be distributed to its subsidiaries, including airport services, sky kitchens, and aviation technologies. In addition, EVA Air plans to adjust salaries for employees in 2024, with ground and cabin crew members seeing an average adjustment of NT$5,000 and pilots receiving adjustments ranging from NT$11,000 to NT$20,000 based on their position. However, this announcement comes amidst potential strike action by EVA Air pilots, leading to concerns that the wage increase announcements are an attempt to pacify them. The Taoyuan Flight Attendants’ Union has emphasized the importance of fair distribution of year-end bonuses and salary increases regardless of the proposed pilot action. Rival airlines Starlux and China Airlines have also announced their year-end bonuses, with Starlux providing a one-month bonus and an approved salary increase of NT$2,000, and China Airlines reportedly planning to distribute a three-month bonus (although the union is demanding five months’ worth). In the marine transportation industry, YangMing Marine Transport Corporation has scaled down its year-end bonus from 13 months last year to two months this year due to a downturn in the shipping industry. The shipping corporations’ lower year-end bonuses are attributed to the "revenge-travel boom" post-pandemic. Other industries with high year-end bonuses include finance, semiconductor, and construction, with 1.83, 1.38, and 1.23 months respectively.
    2023/12/26 10:09
  • 2023全球最富有國家排行 台灣「擠進前20」狠甩中日韓

    2023年將進入尾聲,知名財經月刊全球金融時報(Global Finance)於21日公布了2023年全世界最富有的國家排行,其中台灣位居14名超越中日韓等國;而進入前10名的亞洲國家則有新加坡、卡達、澳門特別行政區、阿拉伯聯合大公國等國家。
    2023/12/25 09:17
  • Kaohsiung first in Taiwan to issue NT$2B green bonds

    Kaohsiung City Government’s Finance Bureau has become the first in Taiwan to be granted the qualification to issue green bonds, with a total amount of NT$2 billion. This move is expected to save on interest payments and enact sustainable environmental practices without increasing the city’s debt. The green bonds will fund green investment projects, encompassing renewable energy development, enhanced energy efficiency, and reduction of greenhouse gas emissions. These bonds, totaling NT$2 billion, will utilize their low, fixed interest rates to replace existing higher-interest bank loans, ensuring resources are invested in low-carbon construction. Under Mayor Chen Chi-mai’s leadership, the city has reduced its debt by NT$10.6 billion by the end of 2022, surpassing the goal of a NT$10 billion reduction. Kaohsiung aims to continue strengthening its financial and environmental sustainability and implement comprehensive net-zero policies as it works toward a 2050 net-zero goal.
    2023/12/20 19:38
  • Taiwan’s Legislative Yuan amends new property tax law

    Taiwan’s Legislative Yuan has passed a law amendment known as "Housing Tax 2.0," which will raise the residential property tax. The new tax will take effect on July 1, 2024, with taxation beginning in 2025. The Ministry of Finance estimates that around 4.45 million households will be affected by the revised tax, with approximately 3.1 million households benefiting from a preferential tax rate for single residency. This could potentially generate an additional revenue of NT$2.27 billion to NT$3.27 billion. Under the new system, residential properties will be categorized as "self-use" or "non-self-use," with a national limit of up to three properties classified as "self-use." The house tax will continue to be collected annually from May 1 to May 31, based on ownership from the prior year’s July 1 to the current year’s June 30. The amendment also requires that "self-use" residences meet household registration requirements in addition to the existing provisions regarding rental and occupancy by the owner, spouse, or direct relatives. The tax reform will have a significant impact on 10 municipalities that have not yet implemented the housing hoarding tax. To support the legislative changes, four supplementary regulations will be introduced, including differential tax rate modules, calculation formulas, principles for determining the number of household property holdings, and revisions to the organization of the Real Estate Evaluation Committees. All subsidiary regulations are scheduled to be amended by July 1, 2024.
    2023/12/20 18:10
  • Legislative Yuan okays ’House Hoarding Tax 2.0’

    Taiwan’s Legislative Yuan has passed an amendment to the House Tax Act, known as the "House Hoarding Tax 2.0," raising the tax rate for non-owner-occupied housing to a range of 2 to 4.8 percent, up from the current range of 1.5 to 3.6 percent. The tax rates will apply nationally to all properties owned by individuals and will be implemented by July 2025. Local governments will set their tax rate discrepancies based on the total number of residential properties owned nationwide. The amendment was approved in the Legislative Yuan session following negotiations among the Democratic Progressive Party (DPP), the Kuomintang (KMT), and the Taiwan People’s Party (TPP), with dissent from the New Power Party (NPP).
    2023/12/19 22:13
  • Tsai Ing-wen honors excellence in architecture and business

    President Tsai Ing-wen hosted the winners of the 25th National Golden Award for Architecture and the 20th National Brand Yushan Award, commending their contributions to Taiwan’s architectural and business communities. She expressed gratitude towards the National Enterprise Competitiveness Development Association for their rigorous evaluations that have motivated industry advancement and boosted Taiwan’s competitiveness. Tsai emphasized the importance of collaborative efforts in construction and building to achieve energy conservation and reduced carbon emissions. She also addressed concerns about urban renewal and pledged to intensify collaboration with private sector players to enhance architectural safety and improve citizens’ quality of life. The winners of the 20th National Brand Yushan Award, which includes CSBC Corporation, were recognized for their contributions to finance, biotech, manufacturing, and service sectors. Tsai urged the awardees to continue offering valuable advice to the government and elevate the prominence of Taiwanese brands on the international stage.
    2023/12/12 21:42
  • Taiwan’s NYMCU joins forces with ACC for climate club

    National Yang Ming Chiao Tung University (NYMCU) has partnered with the American Climate Club (ACC) to establish the American Taiwan Climate Club. This collaboration aims to contribute to the global net-zero carbon emissions target by 2050. The two institutions have signed a memorandum of understanding (MOU) to develop international carbon standards and propose a white paper on environmental, social, and governance (ESG) policies. NYMCU is committed to raising global citizens with sustainability awareness and plans to integrate the 17 Sustainable Development Goals into its academics and research. The partnership also has the potential to pave the way for Taiwan’s engagement in international carbon trading and promote green economic growth. The American Climate Club, registered in Texas, collaborates with government agencies, carbon reduction technology firms, carbon quality monitoring, carbon asset services, and climate and carbon finance funds. The newly formed American Taiwan Climate Club will focus on climate education, international cooperation, carbon project investment, carbon advisory services, and policy research to strengthen climate protection efforts.
    2023/12/12 19:47
  • Hotai Motor reports 23,400 vehicle backlog amid sales dip

    Taiwanese distributor Hotai Motor, responsible for TOYOTA and LEXUS, reported a backlog of around 23,400 orders during an earnings call on Dec. 8. Despite an expected slight decrease in sales volume, the outlook remains optimistic. Hotai Motor dominates Taiwan’s auto market with a 33.3% share, as TOYOTA and LEXUS sold a combined total of 144,522 vehicles from January to November. The profit for the first three quarters was driven by the company’s core operations, particularly the more profitable LEXUS brand. With 19,000 pending orders for TOYOTA and 4,400 for LEXUS, the current order book suggests business for the next two months. Hotai Motor’s diversified investees, including Carmax, Hotai Finance, and Hotai Leasing, continue to grow. Hotai Insurance also experienced significant growth, except for the investing channel in China, which was affected by competitive pricing from domestic electric vehicle brands like BYD.
    2023/12/08 17:45
  • Ko Wen-je rues failed KMT alliance, cites betrayal

    Taiwan People’s Party (TPP) presidential candidate Ko Wen-je expressed disappointment in the failure to establish an alliance with the Kuomintang (KMT), citing his medical background and trust in others as a disadvantage in politics. He believes that the mishandling of the breakup with the KMT has led to his declining support. Despite the acrimony, Ko hinted at potential future cooperation with Foxconn’s founder Terry Gou, acknowledging their maintained contact for policy collaboration. Ko praised Gou’s think tank on finance and economics for its excellent work, revealing that his team has consulted and adopted numerous economic policy suggestions from Gou’s proposals. The focus at this stage is on policy partnership, with paths toward collaborative governance remaining open between the two camps.
    2023/12/07 16:58
  • Taiwan exports to hit US$400B, third-highest on record

    Taiwan’s exports for 2023 are projected to exceed US$400 billion, making it the third-highest on record. Minister of Finance Chuang Tsui-yun expressed confidence in the sustained positive trend, with monthly exports in the fourth quarter expected to surpass US$30 billion each. The country has accumulated US$355.1 billion in export figures for the first ten months, putting it on track to achieve the forecast. Year-end stockpiling needs, emerging technologies, and opportunities in artificial intelligence contribute to cautious optimism for November and December’s export performance. Taiwan’s full-year exports are anticipated to trail behind the US$446.4 billion seen in 2021 and the US$479.4 billion in 2022. Since 2017, Taiwan’s annual exports have consistently surpassed US$300 billion, a significant increase from the figures prior to 2016. The Directorate General of Budget, Accounting, and Statistics forecasts a 6.3 percent export growth rate for the coming year.
    2023/12/04 20:31
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