The Executive Yuan on Thursday approved a draft amendment to a foreign talent act, in the hope that more friendly regulations would attract more foreign professionals to the country.
The draft amendment to the Act for the Recruitment and Employment of Foreign Professionals (外國專業人才延攬及僱用法), which was enacted in 2018, could “enable foreign professionals to come to Taiwan and stay here for good,” Executive Yuan spokesman Lo Ping-cheng (羅秉成) said at a weekly news briefing.
The proposed amendment would also allow “foreign special professionals” to enjoy greater tax concessions, the National Development Council said.
“Foreign special professional” refers to a foreign professional who possesses special expertise needed by Taiwan in science and technology, economics, education, culture, the arts, sports or other fields, as arbitrated by the relevant authorities.
The change would allow such professionals to enjoy extended tax deduction treatment from the current three years to five years, said Lin Chih-mei (林至美), director of the council’s Department of Human Resources Development.
During the five-year period, should their annual income hit NT$3 million (US$105,854), only half of the amount over that threshold would be included as gross income in the assessment of individual income tax liability, she said.
Professionals and their family members would be able to enroll immediately in Taiwan’s National Health Insurance system instead of having to wait for six months as other foreign nationals have to do, Lin said.
Moreover, if they wanted to apply for permanent residence, they would be able to do so after three years in the country instead of the current five years, provided they live in the country for at least 183 days each year.
The amendment still requires approval from the legislature, Lo said.
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