On 1 September 2017, Taiwan's Ministry of Finance issued a release on draft tax reform amendments to the Income Tax law. Planned changes are divided into three main areas and include: Reducing the tax burden on salary income and low-income taxpayers by: Increasing the standard deduction from TWD 90,000 to TWD 110,000; Increasing the special deductions for salaries and for the disabled or handicapped from TWD 128,000 to TWD 180,000; and Removing the top 45% income tax bracket (top rate will be 40%); Reducing the tax burden for SMEs and new enterprises by: Treating sole proprietorship and partnerships as transparent,...