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Republic of Taiwan Business Report
General information
Source: The World Factbook - Central Intelligence Agency
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)
29/180Medium 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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