Overview

Capital
Taipei
Currency
New Taiwan Dollar
Date Format
yyyy-mm-dd; yyyy年m月d日 (ce; ce+2697); 民國yy年m月d日 (ce−1911)

calendar icon Public holidays calendar

Taxes

Employer
4.53% - Health Insurance
6.65% - Labor Insurance
6.00% - Pension Fund
Employee
5.00% - Up to 540,000
12.00% - 540,000 - 1,210,000
20.00% - 1,210,000 - 2,420,000
30.00% - 2,420,000 - 4,530,000
40.00% - 4,530,000 - 10,310,000
45.00% - Over 10,310,000

Minimum Wage

General
The minimum wage is NT$23,100 monthly/NT$150 hourly from 1 January 2019.

Working Hours

General
Fulltime employment is considered 40 hours weekly, and 8 hours daily. * There must be two rest days every 7 days. One is mandetory and the 2nd is flexible (employees may choose to work on the flexible day).
Overtime
Working hours cannot exceed 12 in one da, and maximum overtime is 46 hours monthly. Overtime is paid at: * 134% for the 8th-10th hours (daily) * 167% for the 10th-12th hours (daily) Overtime on ""flex-day"" is paid at: * 134% for first two hours * 167% for 2nd-8th hours * 267% for 8th-12th hours

VAT

General
5% standard rate.

Payment

Payroll Frequency
Salaries are paid on monthly for work done between the 1st and last day of the month. Payday is typically on the 15th of every month.

Mandatory Benefits

Pension Fund
Employers contribute 6% for Taiwaneese nationals, and 2%-15% for non-Taiwaneese. Employees contribute 4.2%.
Social Security
Contributions are toward health insurance, and labor insurance. Employer contribution: 11.18% of workers wages Employee contribution: 3.37% of wages

Termination

Termination Process
Employers must provide notice in accordance with length of employment: * 3 months - 1 year: 10 days * 1-3 years: 20 days * Over 3 years: 30 days
Advance Notice
Employees on non-fixed term contracts must apply the same period of notice as employers. For fixed term contractacts of 3 years or more, 30 day notice is required. Otherwise, under most circumstances, workers may not terminate.
Severance Pay
The severance pay is calculated one-month salary for each year worked in the company.