Minister of Finance Lin Chuan
Lin said that the ministry will try its best to lower the price of locally produced rice wine, but the public must not expect prompt resolutions of the negotiations with the US and EU over changing the wine taxation formula.
In order to lower prices, the government has taken the initiative to revise the Wine and Tobacco Tax Act (菸酒稅法). At the same time, it wants to negotiate with other WTO members for their permission to change the taxation on distilled liquor from a taxation formula based on quantity, to taxation formula based on quantity and production cost.
As a WTO member, Taiwan has promised not to change the taxes it imposes on cigarettes and wine within 30 months after joining the organization or July 2004. To do so earlier would require agreement by other WTO members.
A financial official said that while the US is in favor of a taxation formula based on the production cost, the EU advocates a quantity taxation formula because European alcoholic products are priced comparatively higher.
If a new taxation formula were adopted, the tax levied on a liter of rice wine would be reduced from NT$185 to NT$24.
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