Taiwan is located off the southeastern coast of mainland China in the Western Pacific Ocean. Taiwan's capital city is Taipei. The official language is Mandarin Chinese, and the currency is the new Taiwan dollar (TWD).
Taiwan is one of the world's trading powerhouses and offers one of the most favourable environments for investment in Asia. It currently ranks as the 20th largest economy in the world according to the International Monetary Fund (IMF) and is the world's 18th largest trading entity according to the World Trade Organization (WTO).
Taiwan's unsettled relationship with China has long been a major cause of political uncertainty and an economic impediment, as it is not recognised by most of the world as a sovereign entity separate from China. In late June 2010, the two sides signed a landmark trade deal, formally known as the Economic Cooperation Framework Agreement (ECFA), which aims to reduce tariffs on a range of goods and services across the Taiwan Strait. The ECFA marks a major step towards the normalisation of economic ties between Taiwan and China, its largest trading partner. This has been followed by the signing of the Cross-strait Taxation Agreement on 25 August 2015, with the primary aim to avoid double taxation, which is yet to be ratified by the competent authorities of China and Taiwan.
PwC Taiwan has more than 2,800 highly qualified and experienced professionals, which, together with the resources of our strong global network, allow us to provide support to our clients' needs.