Tax is a big hurdle for Taiwan’s wealth hub hopes
Taiwan wants to lure wealthy investors' capital from Singapore and above all Hong Kong but it ideally needs lower tax rates to do so, says a senior local regulator.
Even as it expands the suite of investment products available to wealthy clients, Taiwan’s ambitions to become an international wealth management centre will likely be constrained if it proves unable to lower its tax rate, admits a senior local regulator.
These aspirations have been given fresh impetus in the wake of Hong Kong's mass protests – which have now dragged on for nearly five months and have hurt Hong Kong's status as a wealth hub, prompting some individuals to move the…
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