Taiwan's Executive Yuan has announced the approval of draft legislation including new incentives to attract foreign professionals to work in Taiwan. The main tax incentive provides that for the first three years of employment in Taiwan, qualified foreign workers residing in Taiwan will be taxed on 50% of their annual earnings exceeding TWD 2 million (~USD 66,000). Amounts up to TWD 2 million will be taxed normally. The legislation also provides for relaxed residence permit requirements and e…