Taiwan Tax Tables 2024 - Tax Rates and Thresholds in Taiwan

This page contains the tax table information used for the calculation of tax and payroll deductions in Taiwan in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ TW, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Taiwan or would like to add to or suggest amendments to the information herein then please contact us.

Taiwan Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Taiwan are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Taiwan Tax Calculator 2024.

In Taiwan, social security contributions made by employees, such as those for health insurance, labor insurance, and pension contributions, are generally deductible from their gross income for the purpose of calculating taxable income. This means that these contributions can lower the taxable base of an individual, potentially reducing their overall income tax liability. This system is designed to encourage participation in the social security programs and to ensure that taxpayers are not overburdened by the combination of tax and social security obligations.

Taiwan Social Security and Payroll Deduction Rates in 2024

In Taiwan, the social security system is comprehensive, designed to provide various benefits to employees, including health insurance, labor insurance, and pension contributions. Both employers and employees contribute to these schemes, which are intended to offer protection and support throughout different stages of an employee's life. The system is structured to ensure the welfare of workers, their families, and retirees.

Health Insurance Contributions

One of the pillars of Taiwan's social security system is the National Health Insurance (NHI) program, which provides wide-ranging medical coverage to residents. Contributions to the NHI are made by employees, employers, and the government. This insurance scheme covers outpatient visits, hospitalization, traditional Chinese medicine treatments, dental care, and prescription drugs, ensuring comprehensive healthcare access for the population.

Labor Insurance Contributions

Labor insurance is another critical component, offering benefits such as occupational accident insurance, maternity benefits, sickness benefits, disability benefits, and survivor's pensions. Employers and employees both contribute to this insurance, which aims to protect workers against income loss due to various risks associated with employment.

Pension Contributions

The pension system in Taiwan includes contributions from employees, employers, and the government, funding retirement, old-age benefits, and annuities. This system ensures financial support for individuals upon retirement, contributing to their financial security in old age.

Unemployment Insurance Contributions

Unemployment insurance provides temporary financial assistance to workers who have lost their jobs without fault on their part. Funded by contributions from employees, employers, and the government, this benefit helps unemployed individuals support themselves while seeking new employment.

Workforce Development Contributions

Contributions are also made towards workforce development initiatives, which are aimed at enhancing the skills and employability of workers. These contributions fund training programs, vocational education, and other initiatives designed to improve the quality of the labor force and support economic development.

Each element of Taiwan's social security and payroll deduction system is designed to address specific needs, from healthcare and retirement savings to protection against employment-related risks and unemployment. By distributing the funding responsibilities among employees, employers, and the government, Taiwan ensures a balanced approach to social welfare, promoting the well-being of its citizens while supporting economic growth.

Taiwan VAT Rates in 2024

VAT rates for Taiwan are reviewed annually, you can use the VAT Calculator to calculate VAT due in Taiwan or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Taiwan

The following tax tables are supported by iCalculator™ TW as part of the suite of free tax tools we provide for Taiwan.