Taiwan to disburse wage subsidies to help businesses

Taiwan has approved a wage subsidy scheme worth NT$3.5 billion (US$125.52 million) to help businesses affected by the pandemic.

Under the scheme, businesses that have seen their revenue decline by at least 20% in September and October from the same period last year will be eligible for the wage subsidies starting from January 1 next year, reports Focus Taiwan.

Companies will be able to receive NT$1,000 (US$36) per month for each full-time employee on a monthly basis, and  NT$560 (US$20) per month for each part-time worker paid by the hour for a period of six months.

Wage subsidies will be available for companies that have been hit hard by the pandemic, in sectors like service and manufacturing, agriculture, cram schools, childcare centres, long-term care facilities, cooperatives, and the industrial sector.

READ: Taiwan decides on minimum wage hike of 5.21%

Effective January 2022, Taiwan’s minimum monthly wage will also increase from NT$24,000 (US$862) to NT$25,250 (US$907), while the minimum hourly pay will be raised from NT$160 (US$5.75) to NT$168 (US$6.03).