Found my answer:
[quote]Vice President Siew calls for competitive tax rates
The China Post news staff
Wednesday, August 20, 2008
TAIPEI, Taiwan – Vice President Vincent Siew yesterday called for more competitive tax rates in Tai
wan, citing lower taxes as the key to economic success of Taiwan’s various regional partners such as Hong Kong and Singapore.
Siew made the statement in a conference yesterday held by the Taiwan Academy of Banking and Finance and the Securities and Futures Institute. The conference discussed ways to turn Taiwan into an Asia-Pacific financial center.
Siew’s statement came after Premier Liu Chao-shiuan emphasized the importance of making Taiwan’s tax rates more competitive internationally, saying lower rates are a critical element in Taiwan’s effort to become a regional financial hub.
Liu’s remarks were cited in Taiwan’s major financial dailies yesterday.
Echoing Liu’s comments, Siew said Taiwan’s business tax rate is 25 percent, compared to Hong Kong’s 16.5 percent. Singapore’s rate varies year after year and is 18 percent this year, he said.
Taiwan’s income tax rate, meanwhile, is up to 40 percent, compared to 17 percent for Hong Kong and 20 percent for Singapore, Siew said.
I agree with being more lenient on the inheritance tax. And removing inherited debts forever!