Tue, Jul 06, 2004 - Page 11 News List

Business Briefs


■ Tax breaks for storm victims

The Ministry of Finance yesterday announced measures for typhoon-stricken taxpayers to receive tax breaks. In a written statement, the ministry said that victims suffering from Tropical Storm Mindulle will be entitled to deductions from various taxes including income taxes, business taxes, commodity tax, house tax and land tax. To get the tax breaks, typhoon victims should submit their applications within 30 days attached with estimates of the damage. If houses were 30 percent to 50 percent damaged will have half the house tax waived while a tax exemption will be granted to houses that were more than 50 percent destroyed, the ministry said. For land made unusable by storm damage, land tax will also be waived, according to the statement.

■ Pact with Malaysia signed

Taiwan and Malaysia signed a protocol on the temporary admission of goods yesterday, with both sides agreeing to operate under the ATA system as soon as possible. Under the ATA system, the transit and temporary import of three categories of goods will be exempt from customs duty and import surcharges -- goods intended for demonstration or use at commercial exhibitions, shows and trade fairs, and similar events; commercial samples; and equipment for the performance of a person's occupation.

■ Reserves reach US$230 billion

Foreign reserves, the third highest in the world, rose for the 36th month to a record US$230.09 billion in June, the central bank said. The reserves, which rank behind those of Japan and China, rose US$1.09 billion from US$229 billion in May, and up US$23.46 billion from the end of last year, the central bank said in a statement. The increase mainly reflects returns from foreign exchange reserve management, it said.

■ New Internet tool unveiled

The nation's largest Internet portal Yahoo-Kimo Inc (雅虎奇摩) yesterday unveiled its search tool called "desk bar," which allows users to search the Internet under the Windows Operating System without opening the Internet browser. Anita Huang (黃蕙雯), marketing manager of Yahoo-Kimo, said the desk bar simplifies and speeds up searching. The company provided a test version of the software three weeks ago, and downloads have exceeded 1.5 million during the period, Huang said.

■ 3M, Central Glass to invest

3M Co of the US and Japan's Central Glass Co are among the companies that may invest here as part of the government's efforts to attract NT$3 billion (US$89 million) of overseas investment in the electronic-components industry, a Chinese-language newspaper reported, citing unidentified sources at the Ministry of Economic Affairs. 3M will invest in a plant in the south to make glass used in liquid crystal displays, the newspaper reported. Central Glass Co and Kanto Denka Kogyo Co both plan to produce NF3, a gas used to clean liquid crystal displays during production, it said.

■ NT dollar rises

The New Taiwan dollar yesterday traded higher against its US counterpart, advancing NT$0.014 to close at NT$33.710 on the Taipei foreign exchange market. Turnover was US$377.5 million.

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