Shocking but not surprising, considering their recent political history.
This is a speculative blog based initially on a couple of conversations with people in the industry, with some supporting evidence.
A (slightly tidied-up) conversation we’ve just had went along these lines:
“You’ll never guess what is the new Switzerland for Asia. And I mean big time. The Asian money is heading there. Banks set up there as its a financial centre that doesn’t tax foreigners. And its perceived as safe, and not a signatory to the CRS [The OECD’s Common Reporting Standard.] TAIWAN.”
Taiwan – the un-noticed Asian tax haven?