Wed, Dec 28, 2005 - Page 10 News List

Industry batters ministry over tax

BACKLASH Business bigwigs and the finance minister met to discuss the government's tax reform plans, the outcome of which saw business earn some concessions

By Jackie Lin and Lisa Wang  /  STAFF REPORTER

"We hope to have more discussions about the tax changes," Ho said, adding that the government should provide stable tax rules for companies to follow.

The ministry now gives local companies, mostly high-tech firms, tax credits for purchasing new machines as well as tax exemption for five years.

Ho said that the ministry has already tightened the qualifications for tax preference and reduced the percentage of tax credits to 7 percent from the previous rate of 11 percent.

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