Chip giant Taiwan eyes bigger tax breaks for tech R&D to retain competitive edge

TAIPEI: Taiwan on Thursday proposed larger tax breaks for technology companies’ research and development (R&D), seeking to retain its leading position in semiconductor manufacturing as other countries offer billions to bolster their chip industries.

The economy ministry said it is imperative for Taiwan to remain competitive as countries including the United States, Japan and South Korea step up tax breaks and subsidies for their chip industries in the wake of major disruption in global supply chains triggered by the COVID-19 pandemic.