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Republic of Taiwan Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
23,508,428 (July 2017 est.)
GDP (PPP)
$1.175 trillion (2017 est.)

GDP growth rate
2% (2017 est.)

Medium, but accelerating from the previous years

GDP (PPP) per capita
$49,800 (2017 est.)

High

Local currency
Taiwan Dollars (TWD)

Relatively stable currency

Financial stability (Public debt)
29.9% of GDP (2017 est.)

Low

Inflation
1% (2017 est.)

Low and slowing from the previous year

Language
Mandarin Chinese (official), Taiwanese (Min Nan)

English is spoken as a foreign language in Taipei

Corruption perception index (Source: Transparency International)
29/180

Medium level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

5% standard rate
Corporate Tax

20% standard rate
Duties

Taiwan uses the Customs Cooperation Council Nomenclature (CCCN) to classify goods and set duty rates

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