Taiwan's Ministry of Finance has issued a notice on basic income eligible for an exemption from income basic tax and related deductions for 2022. The income basic tax (IBT) is essentially an alternative minimum tax levied at a rate of 12% for enterprises and 20% for individuals. The notice confirms that the deduction/exemption amounts for the IBT for 2022 are maintained at TWD 500,000 and TWD 6.7 million for enterprises and individuals, respectively. --- Announcement regarding the amounts of basic income eligible for an exemption from Income Basic Tax and related deductions for 2022 The Ministry of Finance (MOF) made...