Taiwan's Ministry of Finance has issued a notice on basic income eligible for an exemption from income basic tax and related deductions for 2024. 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 provides that the deduction/exemption amount for the IBT for 2024 is increased from TWD 6.7 million to TWD 7.5 million for individuals due to an increase in the applicable CPI for individuals, which met the 10% increase minimum. Because the increase in the applicable CPI for enterprises did not meet the...