According to recent reports, Taiwan's Ministry of Finance is considering an increase in the income basic tax (IBT) rate for companies from 12% to 15% from 1 January 2024, at the earliest, in order to match the global minimum tax rate under Pillar 2. IBT is an alternative minimum tax that is levied if the calculated IBT amount exceeds the normal corporate income tax (CIT) amount, in which case normal CIT is payable plus the difference. An increase in the IBT rate would not require a change in law and may be implemented by a decision of the Executive Yuan...