The Taiwanese Ministry of Finance Feb. 25 announced increases to individual income tax deductions for the 2018 tax year. The announcement includes: 1) the standard deduction, increased to NT$120,000 (US$3,898) from NT$90,000 (US$2,924); 2) the special deduction for salaries, increased to NT$200,000 (US$6,498) from NT$128,000 (US$4,158); and 3) disability and schooling deduction increases. The Ministry also announced the elimination of the 45 percent tax bracket for individuals with taxable income exceeding NT$10 million (U$324,900). [Taiwan, Ministry of Finance, 02/25/19]
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