Starting January 2023, Taiwan’s minimum wage will rise by just over 4.5%. Premier Su Tseng-chang approved the plan on Wednesday.
The adjustment means the monthly minimum wage will rise from NT$25,250 (US$820) to NT$26,400 (US$850). The minimum hourly rate will jump from NT$168 (US$5.40) to NT$176 (US$5.70).
Premier Su says over 2 million workers will benefit from the new plan — 80% of them Taiwanese.
Su also says people will be able to make bigger tax deductions, because the government’s set expense for maintaining basic living has increased to NT$196,000 (US$6,300). That applies to tax filing in May 2023.
Cabinet spokesperson Lo Ping-cheng says raising the minimum wage will especially help working mothers, middle-aged workers and students working part-time. He says President Tsai’s administration has raised the minimum wage on seven occasions to help people benefit from Taiwan’s growing economy.