- Population: 23.4M
- GDP: USD 523 billion
- GDP per head: USD 22,350
- Workforce: 11.3M
- Unemployment (2017): 3.78%
- Average monthly wages (2017): USD 1,515
- Government debt: 31.7% of GDP
- Personal income tax: 45%
- Corporation tax: 17%
- World corruption ranking 2016: 31st Transparency International
- Ease of doing business ranking: 11th Business Freedom Index
- Data protection: Not recognised by EU as having adequate protection
The Taiwanese labour market is heavily legislated for and the employment relationship is governed by strict mandatory rules. For example, it is only within certain industries that a company can derogate from the restrictions on working hours. There is fairly heavy involvement from the local labour authorities who are permitted to carry out inspections to ensure compliance with labour laws.
In addition, Taiwan is becoming increasingly unionised. Works rules, which must be submitted to the local labour authority, are required where there are over 30 employees and there is a prescriptive collective redundancy consultation regime again requiring the involvement of the local authorities.
Related NewsTAIWAN: Annual Update – Expected Labour Law Changes in 2017
TAIWAN: Annual Update – Expected labour law changes in 2016