Focus Taiwan
Date: 2019/12/11
By: Chang Chien-chung and Frances Huang

Taipei, Dec. 11 (CNA) GlobalWafers Co., a leading silicon wafer supplier in Taiwan, has decided to repatriate US$350 million for investments, taking advantage of a preferential tax status created by a newly passed law that encourages local firms to repatriate retained earnings.

In a statement released Tuesday, GlobalWafers said the plan for fund repatriation has been approved by its board of directors and is scheduled to be completed in the first half of next year.

GlobalWafers is among the major local enterprises with a worldwide production network that have responded to government incentives to invest back home in a bid to boost local industrial development and eventually the domestic economy.

The new law, which went into effect Aug. 15, allows retained earnings to return and be taxed at a lower preferential tax rate rather than at the standard corporate income tax rate.    [FULL  STORY]