Taiwan approves ‘rich man’s tax’

19 May 2014 | 1 minute read

Two months after Taiwanese authorities moved to liberalise the regulatory environment for onshore private banks, the industry’s enthusiasm could be tempered by the introduction of next year’s so-called ‘rich man’s tax’. Individuals with an annual net income of more than NT$10 million (US$331,000) will be subject to a 45% tax rate, up from 40%, as of next year according to…

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