On 18 January 2018, Taiwan's Legislative Yuan approved amendments to the Income Tax Act that includes changes for both corporate and individual taxpayers. Key changes are as follows

• The corporate tax rate is increased from 17% to 20% in 2018, with a transition for SMEs with taxable income of up to TWD 500,000: 18% in 2018, 19% in 2019, and 20% from 2020;
• The imputation tax system for dividends…