Taiwan passes Chip Law

Taiwan's legislature has approved a draft amendment to Article 10-2 and Article 72 of the Industrial Innovation Law, called the Taiwan Chip Law. It aims to attract more enterprises to make major investments in Taiwan, and to strengthen and improve the position of Taiwan's key industries, including the semiconductor industry, in the global supply chain.

The Taiwan Ministry of Economics states, “This law takes into account both industrial development and reasonable tax burden. Taiwan is an important part of the global supply chain, as well as a reliable partner for large international factories. Taiwan must strengthen its international competitiveness. advantages in key industries in the face of massive stimulus from the US, Japan, South Korea and the European Union.