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|Forextrader||AGOA expands on the U. Most tables in the report present U. Andy Harris R-MD. Trade in Goods in The value of U. Electric vehicles : Work continued on developing common standards, test procedures, and tools to promote universal compatibility and interoperability between electric vehicles, supply equipment, and electric power supply infrastructure. This commission held its 11th meeting in December Starting fromstartup entrepreneurs can use intellectual property IP as collateral in obtaining bank loans, and this applies to foreign investors.|
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|Wearing a vest to a festival||Also, a panel report was circulated in November in the complaint by the EU regarding conditional tax incentives, established by Washington state, for large civil aircraft DS Mike Kelly R-PA. Transportation Secretary Foxx Approves U. On July 19,the United States requested supplementary consultations on additional related issues. MOEA has taken steps to improve the business registration process and has been finalizing amendments to the Company Act to make business registration more efficient.|
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|Indian forex forum||In the second dispute DSfiled on Online indian broker forex 13,the United States requested consultations with China regarding certain measures through which China appears to provide domestic support in favor of agricultural producers, in particular those producing wheat, indica rice, japonica rice, and corn. Taiwan is a young and vibrant multi-party democracy. Legal System and Judicial Independence Taiwan has a codified system of law. Inat the request of the U. Approval from the Investment Commission is required for foreign investors before proceeding with business registration. Ongoing Country Reviews.|
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The authorities have relaxed restrictions on the movement of merchandise, capital, and personnel into and out of these zones. TIPC facilitates cooperation with foreign shipping operations and related businesses. In addition to preferential tariff and fees, the foreign labor ceiling for manufacturers in the free ports zones is 40 percent. Kaohsiung Port also serves as a London Metal Exchange LME delivery port of primary aluminum, aluminum alloy, copper, lead, nickel, tin, and zinc.
Taiwan does not mandate local employment, but the authorities have incentivized foreign companies to hire more local staff with preferential measures, such as in the mutual fund industry. Except for restricted industries on the negative list, there is no restriction on foreigners taking roles in senior management or on boards of directors.
Foreign investors have long expressed concerns over difficulties in recruiting skilled executives and professionals. The Act for the Recruitment and Employment of Foreign Professionals that took effect February aims to attract foreign professionals through simplified policies regarding work, visa, and residence, and increased benefits on retirement, insurance, and tax obligations. Taiwan does not mandate any forced localization or performance requirements, and does not ask software firms to disclose their source code.
Interests in property are enforced in Taiwan, and it maintains a reliable recording system for mortgages and liens. Taiwan law protects the land use rights of indigenous peoples. In May , the Cadastral Clearance Act was passed to promote better land registration management. As in other investment categories, Taiwan has specific regulations governing property acquisition by PRC investors.
The United States continues to monitor a number of IPR issues in Taiwan, including online piracy of copyrighted materials, illegal textbook copying on university campuses, end-user piracy of software, satellite signal theft, corporate trade secret theft, and weak pharmaceutical patent protections. The importation and transshipment of counterfeit products, mainly from the PRC, is also a problem. The United States is actively working with Taiwan authorities to address these issues.
Proposed amendments to the Copyright Act , which features 93 amendments and 17 new articles seeking to prevent intellectual property infringement in the digital age, are still under legislative review. A proposed amendment to the Trade Secrets Act, which would allow foreign entities to file lawsuits against misappropriations and to allow prosecutors to issue a confidentiality preservation order over all information received and produced during investigations, is among one of the five priority bills being reviewed during Taiwan Customs reported that the number of cases involving seizures of imported counterfeit branded goods continued to increase to cases in , with the majority of the violations in toys, medicine, and communications industries.
Taiwan prosecutes IP infringement, and imposes up to five years prison time for copyright violations, in addition to monetary fines. TIPO normally renders a decision within six months after it receives all supporting documents. If the application is approved, the mark or patent will be published and registered after the applicant pays registration fees within two months upon receiving the approval notice. In July , TIPO hosted its first hearing for patent invalidation proceedings under the new invalidation mechanism.
The hearings are considered a procedural alternative to administrative appeal and are expected to increase efficiency in resolving patent disputes. Patent holders may request that Taiwan Customs authorities suspend clearance and detain goods suspected of infringing their patent rights. An affected rights holder must submit a written statement detailing the infringement allegation and a security deposit equivalent to the import value.
Taiwan allows the establishment of offshore banking, securities, and insurance units to attract a broader investor base. As of the end of , there were companies listed on the TWSE, with a total market trading volume of USD billion including transactions of stocks, Taiwan Depository Receipts, exchange traded funds, and warrants.
Foreign portfolio investors are not subject to a foreign ownership ceiling, except in certain restricted companies, and are not subject to any ceiling on portfolio investment. The turnover ratio in the TWSE rose to Payments and transfers resulting from international trade activities are fully liberalized in Taiwan.
A wide range of credit instruments, all allocated on market terms, are available to both domestic- and foreign-invested firms. Regulators have encouraged local banks to expand to overseas markets, especially Southeast Asia, and to minimize exposure in the PRC. The Taiwan Central Bank operates as an independent agency and state-owned company under the Executive Yuan, free from political interference.
Foreign banks are allowed to operate in Taiwan as branches and foreign-owned subsidiaries, but financial regulators require foreign bank branches to limit their customer base to large corporate clients. To promote the asset management business in Taiwan, starting in May , foreigners holding a valid visa entering Taiwan have been allowed to open an NTD account with local banks with passports and an ID number issued by the immigration office, replacing the previous dual-identification passport and resident card requirements.
There are few restrictions in place in Taiwan on converting or transferring direct investment funds. Foreign investors with approved investments can readily obtain foreign exchange from designated banks. Funds can be freely converted into major world currencies for remittance, but in order to retain funds in Taiwan they must be held in currency denominations offered by banks. In addition to commonly used U. The exchange rate is based on the market rate offered by each bank. The NTD fluctuates under a managed float system.
There are no restrictions on remittances deriving from approved direct investment and portfolio investment. No prior approval is required if the cumulative amount of inward or outward remittances does not exceed the annual limit of USD 5 million for an individual or USD 50 million for a corporate entity.
Declared earnings, capital gains, dividends, royalties, management fees, and other returns on investment may be repatriated at any time. There is no written guideline on the size of such transactions, but according to law firms servicing foreign investors, amounts in excess of USD million may be affected.
Capital movements arising from trade in merchandise and services, as well as from debt servicing, are not restricted. No prior approval is required for movement of foreign currency funds not involving conversion between NTD and foreign currency. Taiwan does not have a sovereign wealth fund. Taiwania Capital Management Company, a partially government-funded investment company, was established in October to help promote investment in innovative and other target industries.
Some existing SOEs are large in scale and exert significant influence in their industries, especially monopolies such as Taiwan Power Taipower and Taiwan Water. MOEA has stated it does not intend to privatize Taipower, but plans to restructure it as a new holding company under Electricity Industry Act revisions passed in January that will gradually liberalize power generation and distribution.
Taiwan authorities retain control over some SOEs that were privatized, including through managing appointments to boards of directors. These 17 SOEs employed a total of , workers. In Taiwan, SOEs are defined as public enterprises in which the government owns more than 50 percent of shares.
Public enterprises with less than a 50 percent government stake are not subject to Legislative Yuan supervision, but authorities may retain managerial control through senior management appointments, which may change with each administration. Public enterprises owned by local governments exist primarily in the public transportation sector, such as regional bus and subway services.
Each SOE has a board of directors, and some SOEs have independent directors and union representatives sitting on the board. Except for state monopolies, SOEs compete directly with private companies. Private companies in Taiwan have the same access to financing as SOEs. Taiwan banks are generally willing to extend loans to enterprises meeting credit requirements. SOEs are subject to the same tax obligations as private enterprises and are regulated by the Fair Trade Act as private enterprises.
There are no privatization programs in progress. The Taiwan public has high expectations for and is sensitive to responsible business conduct RBC , in part due to concerns about such issues as food safety and environmental pollution. Taiwan authorities actively promote RBC. MOEA and the FSC have issued guidelines on ethical standards and internal control mechanisms to urge businesses to take responsibility for the impact of their activities on the environment, consumers, employees, and communities.
MOEA maintains an online newsletter to publicize best practices and raise awareness of the latest RBC-related developments in Taiwan and abroad. Taiwan authorities place a high priority in addressing and promoting social responsibility investment.
In , the authorities mandated that publicly-listed companies with more than NTD 10 billion USD million in capital and firms with direct impact on consumers such as food processing, restaurants, chemicals, and financial prepare annual social responsibility reports. In November , the Act was amended again to mandate all publicly listed companies disclose average employee compensation and wage adjustment information. Taiwan does not participate in the Extractive Industries Transparency Initiative.
Taiwan has implemented laws, regulations, and penalties to combat corruption, including in public procurement. The Act on Property-Declaration by Public Servants mandates annual properties declaration for senior public services officials and their immediate family members.
In , there were 29 violations found by the Control Yuan and a total of USD thousand of fine was imposed. The Corruption Punishment Statute and Criminal Code contain specific penalties for corrupt activities, including maximum jail sentences of life in prison and a maximum fine of up to NTD million USD 3. Laws provide for increased penalties for public officials who fail to explain the origins of suspicious assets or property.
The Government Procurement Act and the Act on Recusal of Public Servants Due to Conflict of Interest both forbid an incumbent and former procurement personnel and their relatives from engaging in related procurement activities. It asks publicly-listed companies to establish an internal code of conduct and corruption-prevention measures for activities undertaken with government employees, politicians, and other private sector stakeholders.
The Ministry of Justice is drafting a Whistle Blowers Protection Act aiming to effectively combat illegal behaviors in both government agencies and the private sector. Contact at government agency or agencies are responsible for combating corruption:. Taiwan is a young and vibrant multi-party democracy. The transitions of power in both local and presidential elections have been peaceful and orderly. There are no recent examples of politically motivated damage to foreign investment.
An official labor force survey indicated that atypical employment has hit , in , and among the , atypical workers, , had at least college education. As of December , there were , foreign laborers in Taiwan, of which , were working in the industrial sector. The Labor Standard Act and the Act of Gender Equality in Employment are universally applied to both domestic and foreign workers, with the exception that domestic foreign helper is not covered by the Labor Standard Act.
MOL data indicated that, while labor shortage rates remained stable at around 3 percent in the manufacturing industry, the rates have been increasing over past few years in services industries such as food and accommodation, information and communication, art and entertainment, recreation, and real estate activities.
Industry groups have long claimed that a lack of blue-collar workers is one of the major issues facing manufacturers operating in Taiwan and have urged the authorities to increase the ceiling on foreign workers. Taiwan businesses are also urging the authorities to ease work visa requirements to recruit foreign professionals, especially the skilled white-collar labor in the information technology sector. Taiwan authorities sponsor training and certificate programs for college graduates to increase the talent pool for the manufacturing industry.
Private companies are not subject to rules requiring the hiring of nationals. Taiwan provides unemployment relief based on the Employment Insurance Law , vocational training allowances for jobless persons, and employment subsidies to encourage hiring. The number of effective collective bargaining agreements increased from in to in , mainly due to a sharp increase of such agreements with vocational unions. Taiwan has labor dispute resolution mechanisms in operation at all levels of labor, and the number of dispute cases filed slightly dropped from 27, in to 26, in Taiwan also introduced an arbitration mechanism in to preempt disputes through a professional and neutral mediation system.
Labor relations in Taiwan are generally harmonious. Taiwan law, including related regulations and statutory instruments, protects the right to join independent unions, conduct legal strikes, and bargain collectively. A new Labor Incident Act passed in November mandates the establishment of special labor courts, which would help improve labor right through accelerated dispute resolution and reduced financial cost for labor filing employment lawsuits.
Improving labor welfare is the one of the core themes pursued by the current Tsai administration. MOL is also drafting a bill aiming to replace the current annual minimum wage review panel with a legislation-based system. There have been strikes in recent years in the aviation industry. Under public pressure, the Ministry of Transportation and Communications proposed a draft amendment to the Ministry of Labor MOL , suggesting MOL stipulate a seven-to-ten day notice requirement if any union, particularly in the transportation industry, plans to strike.
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