Moneyball

14 August 2019 By Robyn Mak Follow @mak_robyn

President Tsai Ing-wen wants companies that left for mainland China and beyond to return, bringing with them some of the $350 bln already invested overseas. Fallout from a U.S.-China trade war means that is achievable; labour, land and other reforms can make the impact last.

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Taiwan's government has approved 106 applications from local businesses planning to repatriate T$537 billion ($17.09 billion) worth of overseas capital, local newspaper Taipei Times reported on Aug. 13, citing official statements.

In July, the self-ruled island's legislature approved a special bill granting tax benefits to Taiwanese companies and individuals who transfer overseas earnings back. As part of the scheme, companies and individuals will be taxed 8% in the first year, and 10% during the second year, on the repatriated amount. That compares with a standard corporate income tax rate of 20%.

The bill, which is expected to go into effect this year, requires repatriated funds to be held in special bank accounts for at least five years, subject to certain restrictions.

Context News

The bill, which is expected to go into effect this year, requires repatriated funds to be held in special bank accounts for at least five years, subject to certain restrictions.

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