Taiwan Tax Agency Clarifies Comprehensive Income Tax Exemption for Specified Individuals

The Taiwanese Tax Administration Sept. 23 clarified the comprehensive income tax exemption for individuals with a monthly salary of less than NT$50,000 (US$1,639). The clarification includes that: 1) necessary costs for basic living aren’t taxed, from 2017; 2) standard deductions were increased, and four categories of special deductions apply, including salary income, disabilities, and early childhood education, from 2018; 3) a long-term care special deduction applies, from 2019; and 4) special deductions for early childhood education and housing rental expenditures were increased by 50 percent, from 2024. The clarification also provides an example of how the exemption would apply to ...