A raft of incentives aimed at cultivating homegrown talent and attracting skilled professionals from abroad to Taiwan will be reviewed at an ROC Cabinet meeting set down for April 18 in Taipei City.
Drafted by the Council for Economic Planning and Development, the proposals include five-year favorable tax rates for overseas professionals, more agreements eliminating double taxation for foreign nationals and flexible compensation packages for outstanding academics and researchers.
The measures are part of the ROC government’s drive to boost Taiwan’s international competitiveness, and go some way toward combating the brain drain to economies offering higher salaries such as Hong Kong, Japan, the U.S. and mainland China.
“Taiwan’s financial, high-tech and R&D sectors are being stripped of their talent,” an unnamed CEPD official said. “If left unaddressed, this situation threatens to undermine long-term national development.”
Other CEPD suggestions being mulled range from salary increases for senior government officials to an easing of immigration regulations for overseas professionals.
“If we can attract better candidates into the public sector, this will greatly enhance overall government efficiency and the quality of policymaking,” the official said.
“In addition, immigration regulations such as rules governing switching employers and applications for permanent residency must be looked at.” (JSM)