The amount is expected to reach NT$50 billion by the end of the year, the official said, adding that a larger number of remittances are expected to be made in the first half of next year. The legislature passed the Act on the Use of and Taxation on Inward Remittances of Overseas Funds (境外資金匯回管理運用及課稅條例) in early July. Accountants have expected a steady increase at the end of this year in applications to repatriate funds, saying that many wealthy individuals and Taiwanese businesspeople tend to make fund management plans before the year end, the Liberty Times reported. There might be a wave of applications in March and April, and the momentum would likely continue through July or August, the newspaper said. The ministry has estimated repatriated funds of NT$133.3 billion for the year following promulgation of the law.

Source: Taipei Times December 22, 2019 15:56 UTC