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  • Taiwan survey reveals 56% of employees with stagnant wages

    Discover the challenges faced by salaried workers in Taiwan through a survey by yes123, revealing that over half have experienced wage freezes for at least three years. Learn about employees’ strategies to increase income and negotiate for raises in a competitive job market.
    2024/02/20 11:48
  • LINE Pay soars 195% in market debut, hits NT$1030

    LINE Pay, a mobile payment provider, had a successful over-the-counter market debut in Taipei, with shares soaring 195% from the listing price of NT$348 to a record high of NT$1030. The company’s financial documents reveal a capital of NT$600 million and earnings per share of NT$8.04 in 2022. LINE Pay’s revenue for 2022 reached NT$3.62 billion, demonstrating consistent growth over the past four years. With over 500,000 payment locations and more than 7 million active users out of 12 million customers in Taiwan, LINE Pay predicts that its revenue will increase to NT$4.78 billion in 2023. Notably, nearly half of the population in Taiwan are LINE Pay users. In terms of revenue share in 2023, transaction fee income accounted for 83%, financial promotion collaborations for 12%, and marketing product sales for 5%, according to LINE Pay’s statement.
    2024/01/26 17:23
  • 104 Job Bank ignites youth podcasting wave for career edge

    104 Job Bank in Taiwan has launched the "Youth General Knowledge Class" event, inviting high-school and university students to create their own podcast episodes to gain industry experience and earn extra income. The job bank’s marketing director, Chang Pao-ling, stated that there are currently 25,000 job opportunities in sectors such as art design and print media that primarily evaluate candidates based on portfolio work. This trend has grown by 44% in the past five years. The initiative aims to help job seekers showcase their curatorial abilities and increase their competitiveness. Job categories such as "Communication Art/Design" and "Print media" demand portfolios for 13.5% and 13% of their openings, respectively. Recently, job postings have started asking for portfolios from applicants in various positions, including 3D animation designers, video game programmers, and web front-end engineers. A survey conducted by 104 Job Bank revealed that 64% of businesses advised students to take part-time jobs to broaden their perspective, while 45.3% expected students to join clubs or teams to foster skills in interpersonal communication and leadership. The initiative by 104 Job Bank aims to create opportunities for students to showcase their curation skills, build a personal portfolio, and tap into the growing popularity of podcasts. For more information, visit: 104青春通識課 | Podcast, Instagram, Facebook | 傳送門 (portaly.cc).
    2024/01/17 17:11
  • Tax benefits for disabled, long-term care rise in Taiwan

    In 2021, approximately 664,000 Taiwanese taxpayers received disability deductions and 354,000 received long-term care deductions from their individual income tax, in accordance with the rules of the "Income Tax Act." The total deductions for disability and long-term care amounted to NT$137.4 billion and NT$42.5 billion, respectively. Since 2014, the number of households benefiting from disability deductions has exceeded 600,000, reaching 635,000 in 2021. The income tax reform in 2018 increased the disability deduction to NT$200,000, resulting in a rise from NT$89.1 billion in 2017 to NT$135.2 billion, with subsequent years remaining around NT$138 billion. Starting from 2019, individuals could deduct up to NT$120,000 for long-term care. By 2021, a total of NT$42.5 billion was deducted, benefiting 330,000 households, which accounted for 5.1% of all reporting households. Over the past five years, the number of individuals benefiting from disability deductions ranged from 664,000 to 698,000, representing 55.2% to 59.6% of all disabled Taiwanese. The number of individuals benefiting from long-term care deductions has been increasing annually for the past three years, with 336,000, 350,000, and 354,000 people, respectively. The beneficiaries of the long-term care 2.0 service also experienced an increase, from 389,000 in 2019 to 554,000 in 2021, indicating an improvement in the capabilities of the long-term care service.
    2023/12/26 21:34
  • Taiwanese optimism on year-end bonuses sises, survey shows

    A survey by Cathay Financial Holdings reveals that Taiwanese are increasingly optimistic about year-end bonuses and economic prospects. 59.3% of respondents expect bonuses ranging from one to three months’ salary, surpassing last year’s 55%. Furthermore, 8.3% anticipate bonuses exceeding three months’ pay, reflecting an improvement in attitudes towards Taiwan’s economy. The Directorate-General of Budget, Accounting and Statistics predicts a 3.35% economic growth in 2024 with an inflation rate of 1.64%, but the public is more cautious, expecting a 2.52% growth and a 2.21% inflation rate. The optimism index for the local stock market has also improved. Additionally, 45.9% of Taiwanese anticipate salary increases, a 13.2 percentage point increase from 2022, while those expecting a steady monthly income dropped by 10.9 percentage points to 47.6%. Only 32.4% believe their year-end bonus will be less than one month’s salary, a decrease of 5.6 percentage points from the previous year.
    2023/12/20 17:28
  • Over 4M people earn less than NT$43K monthly in Taiwan: data

    Discover the latest insights from Taiwan’s job market, including the widening income gap, low salary increase expectations for 2024, and varying pay trends across industries.
    2023/12/19 18:05
  • Taiwan sees first real wage decline in seven years

    Taiwan’s average regular earnings for employed workers increased by 2.49% from January to October, reaching NT$45,441. However, this growth is the lowest in the past three years, with total earnings, including bonuses and other irregular income, only up by 1.53%. The average monthly real wage slightly increased by 0.06% to NT$41,370, while the average total real wage decreased by 0.87% to NT$53,960, the first decline in seven years. This decline is attributed to a decrease in year-end bonuses following a cooling economy and a decrease in exports. Despite an overall increase in employment of 10,000 workers compared to last year, the manufacturing industry saw a significant drop of 27,000 employees due to economic adjustments. In October, the average regular wage was NT$45,564, up 0.13% from the previous month and 2.31% year-on-year. Part-time workers’ average hourly regular earnings increased marginally to NT$200, reflecting a 1.01% year-on-year gain. While industries such as arts, entertainment, and leisure services, as well as real estate, experienced wage increases, sectors like computer, electronic, and optical product manufacturing saw significant decreases in total wages by 18.54%. The employment numbers in manufacturing have been impacted by export decline, with an increase of 10,000 employed workers from January to October. The industrial sector saw a decrease of 0.63%, while the service sector grew by 0.67%. Accommodation and food services experienced a growth of 13,000 jobs, arts, entertainment, and leisure services saw an upsurge of 7,000, but manufacturing was hit with a reduction of 27,000 employees.
    2023/12/12 10:17
  • Ko’s spouse clarifies sudden bank deposit hike

    Chen Pei-chi, spouse of Ko Wen-je, presidential candidate from the Taiwan People’s Party (TPP), explained in a Facebook post that the increase in their bank deposits was due to receiving NT$4.22 million from a public service pension after Ko’s term as Mayor of Taipei ended. This clarification came after concerns were raised regarding the rise in Ko’s bank deposits, as disclosed by the Central Election Commission (CEC). Chen, who has been responsible for Ko’s financial declarations for years, praised the user-friendliness of the Control Yuan’s property declaration system but noted that the process for fulfilling the CEC’s requirements was incompatible with the Control Yuan’s document handling. Chen meticulously calculated the savings and net value of funds, including residual payment insurance policies. The couple had paid approximately NT$700,000 in insurance premiums that year but did not explicitly list it in the commission’s financial report form due to a lack of specific fields. Chen expressed surprise at the deposit increase, considering Ko’s retirement and lack of salary income as chairman of the TPP. The family relied on Chen’s hospital income, and the discovery of the NT$4.22 million pension deposit was unexpected.
    2023/12/07 10:00
  • Survey: Half of respondents expect salary increase in 2024

    According to a national economic confidence survey by Cathay Financial Holding, approximately half of respondents believe their salaries will increase in 2024, showing a more optimistic outlook compared to last year. About 25% of respondents anticipate a pay hike of more than 3%. This comes after the Ministry of Labor’s decision to raise the minimum wage by just over 4% in 2024. 64% of respondents reported that their income has remained unchanged over the past six months, while 18.1% said it has increased and 17.9% said it has decreased. Looking ahead to next year, 25.2% of respondents expect a salary increase of more than 3%, a significant increase from last year’s survey. The survey also reveals that respondents predict the country’s economic growth rate to stay at 1.6%, with only around 21% believing it will surpass 2% this year. In terms of inflation expectations, the median value remains steady at 2.5%, with 84% of respondents believing this year’s inflation rate will be more than 2%. Overall, the public maintains a conservative outlook on economic expansion, while inflation expectations remain higher.
    2023/11/20 13:50
  • Salary hikes and bonuses expected at First Commercial Bank

    First Commercial Bank announces a net income of NTD$192 billion for the first ten months of 2023, close to its total 2022 profits, and plans generous employee bonuses and pay raises. Bank Sinopac also reveals plans for significant salary increases and food subsidies.
    2023/11/13 20:24
  • Taiwanese major airlines report record revenues in October

    Taiwanese airlines, including China Airlines, EVA Air, Tigerair Taiwan, and Starlux Airlines, have reported record revenues in October and for the first ten months of the year. Starlux Airlines achieved a monthly operating income of NT$2.087 billion in October, the third highest in its history. China Airlines saw a 7.85% monthly increase and a 28.56% annual increase in October, with total revenue reaching NT$16.076 billion. EVA Air’s October revenue increased by 6.8% monthly and 46.57% annually to NT$17.525 billion. Tigerair Taiwan experienced the most significant growth, with October revenue increasing by 13.7% from September and skyrocketing 1040% from last year to NT$1.22 billion. The industry expects this revenue trend to continue as flight operations resume, driven by the northeast Asia leaf-viewing and skiing season, as well as peak travel periods such as Christmas markets and New Year’s Eve in Europe, America, New Zealand, and Australia.
    2023/11/13 12:50
  • Job market embraces flexibility amid Taiwan’s labor shortage

    Discover the rising trend of flexible working hours in Taiwan’s job market to combat labor shortages and cater to employee preferences. Learn how this shift impacts income, job satisfaction, and concerns about stability. Government, businesses, and professionals are urged to ensure worker rights and well-being.
    2023/08/21 16:59
  • Monthly income of nearly 465,000 Taiwan people below NT$42K

    As the cost of living in Taiwan continues to increase, salaries are not seeing much growth. 
    2023/01/04 13:52
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