The government is drafting a plan to ease tax and investment rules for the biotechnology sector. It is also forming an NT$30 billion (US$882 million) biotechnology development fund to be managed by the Ministry of Economic Affairs.
Officials said on Saturday said that the ministry is seeking to abolish the 25 percent corporate tax on biotech investments by venture capital firms.
Stock market listing rules for biotech firms and investment regulations for venture capital firms, pension funds and insurance firms may also be eased. The plan may be implemented by the end of the year, officials said.
The government hopes to see 25 percent annual growth for biotech sector.
RSS