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Tax amnesty alone may be “insufficient” to lure Taiwan HNWIs’ assets onshore

Tax incentives for repatriated funds, the COVID-19 pandemic, and a complicating geopolitical landscape have provided Taiwan’s onshore wealth management scene with some momentum but, truth be told, only a small portion of offshore assets have returned to Taiwan. Most have remained in offshore banking units (OBUs), Singapore, and Hong Kong. “Around 60% of the repatriated funds come from businesses, and…

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