Taiwan Boosts Tax Relief for Parents As Birth Rate Falls

Taiwan is giving parents with minor children a bigger tax break, with the tax-exempt allowance increasing by 50% starting with the 2027 tax year. Parents could save between US$79 and more than US$600 per child, depending on their income tax rate. Families with children under six can also combine the higher allowance with an additional preschool deduction. The government estimates that more than…