Taiwan's Executive Yuan (Cabinet) issued a release on 17 November 2022 announcing the approval of draft amendments to the Industrial Innovation Act to provide increased tax credits for investment in R&D and advanced manufacturing equipment with effect from 1 January 2023 to 31 December 2029. The amendments, submitted to the Legislative Yuan for review and approval, include a 25% tax credit for qualifying investment in R&D and a 5% tax credit for investment in equipment used in advanced manufacturing processes. Key provisions of the draft amendments are summarized in the release as follows: --- I. Added provisions regarding tax credits...