They have them here too. Mostly people that own one or more apartments in the building. But all would look better if every 10 years or so the building gets cleaned up from the outside and broken tiles replaced, ‘pigeon coops’ removed or everyone the same style, it would take away the ‘third world’ look.
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Most countries have them, both common and civil law jurisdictions, including tw
Also, there’s urban renewals too. It may be like 50 years before this actually happens but that possibility has kept 99% of all Taiwanese property owners from actually making it look good thinking it’s going to be rubble soon anyways.
There’s no incentive to make your buildings look nice when people hide their wealth.
Totally agree. Taxes are super low in Taiwan. Many rich Europeans I know give up residency in Europe to pay less taxes in Europe and set up a company in Taiwan to do business in Asia.
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Top rate income tax in Taiwan is 40%. Income tax is only low compared to most western countries if you are on a low income. I don’t know about corporation tax. Is that what you mean?
EDIT: The reply function hasn’t worked. This could be a reply to @Andrew0409 or @Morran01.
My theory is the State doesn’t subsidise non workers to the extent western countries do: the retired, optionally unemployed, and unemployable (infirm, disabled etc). This enables lower income tax for low earners.
In most western countries higher income taxes are required to pay for the lifestyles of those who don’t work, mainly the elderly.
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People in Taiwan are experts at cheating on their taxes. If someone makes enough to end up with a 40% tax rate they will find ways to not pay that.
Corporate tax is 20%, and as some other posters said you can do quite a lot to bring it down
And, perhaps most importantly over the long term, there is no capital gains tax
Also Taiwan is not without benefits or subsidies. It’s probably not as much as the US (for example poor families having 6 or 7 children even though they can’t afford to because of SNAP and tax credits). Let’s not forget there are subsidies for having more children in Taiwan because of a population decline. I don’t know where they get the money for that.
Only recently are there subsidies and they are still very low (2.5k per mth max) and vary by county. Recent introduction of child care subsidy. Also they only extend until 4 yrs old for most families.
Of course there’s always been money to subsidise teachers and profs kids , civilian servants kids…
Maybe it just has to do with the Wealth Gap, when the majority of the population make peanuts and have to fight over a rise in Toilet Paper a very Rich person in this society would be wise not to flaunt their money until they leave Taiwan to their Luxury homes overseas.
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Eh homeless people receive at least a subsidy of 5000 NTD monthly. Plus there are shelters and daily food from both government and NGOs.
Disabled people also receive 8000 NTD up. The people you see begging on the streets are mostly professionals or Chinese swindlers. Do not give to them. Properly licensed disabled people unable to work will have a govenment ID and sell lottery or other approved activities.
Unemployed people also receive benefits if they can prove that they have been to a job interview in the last 3 months.
And no, they are not the biggest drain on the budget. The 18% people are, as well as the agricultural associations and other syphons of funds into ex government and blue party people´s pockets.
And taxes from the South cities pay tribute to Taipei, which gets also the lion´s share of the national budget
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Edit : Unless you are a single foreigner . Then none of the above perhaps?
Yep. One hopes singel foreigner is not disabled, and in the case of those stinky freeloaders who sing for their travels, that is illegal. They will not get free stay in prisoon nor free food there from the government.
Those figures are on a par with most western countries?
Nope!
Disabled people CAN get a lot more than that in many western countries (depends on the disability and the country). Free housing, travel, benefits, medical, work and living assistance. Unemployment assistance where I’m from is something like 8000 ntd per month but they also get housing and many other allowances.
In some countries they will pay you a large part of your previous salary while you look for a new job.(Taiwan supposedly possible to get this).
Homeless people not so great but if they can work with the system in many cases they can get free room and board and public housing and unemployment assistance.
But many homeless have multiple problems that’s why they are homeless.
Those western countries are running a huge deficit or have very high taxes too.
The minimum in my home country is about 30k NT$/ month