Outgoing Minister of Finance Ho Chih-chin (
"Having served the country is the biggest source of pride in my life," Ho told finance officials at a farewell party at the ministry yesterday.
Expressing his gratitude to his subordinates at the ministry, Ho said that he was proud to have played a part in the ministry's achievements in striking a balance between the government's revenue and expenditure.
After years of deficits, the central government had a NT$16.6 billion (US$540 million) surplus in 2006 and a NT$68 billion surplus last year under his 20-month tenure, said Ho, who had given up his US citizenship before taking the post.
After taking some rest, Ho said, he may choose to resume his teaching job at National Taiwan University.
Acting finance minister Lee Ruey-tsang (
"It will be very difficult for taxpayers to evade taxes once the ministry's new taxation system has been fully implemented," he said.
The new system, which had been facilitated under Ho's leadership, will enhance efficiency in tracking earnings for taxation, Lee said.
Meanwhile, Premier Chang Chun-hsiung (
Chang said he had rejected several previous resignation letters Ho had tendered for various reasons, but approved the latest one because he agreed with Ho that he had to take responsibility for a scuffle that broke out at Democratic Progressive Party presidential candidate Frank Hsieh's (謝長廷) campaign headquarters on Wednesday.
Chang made the remarks in response to a report in the Chinese-language China Times that the premier had rebuked Ho immediately after the incident, prompting Ho to resign the next day.
Giving in to pressure from four Chinese Nationalist Party (KMT) lawmakers, Ho had accompanied the lawmakers on a visit to Hsieh's campaign headquarters in Taipei.
The lawmakers visited the campaign office, located in a building belonging to First Financial Holding Co (
The legislators' intrusion triggered strong displeasure among Hsieh's supporters, who considered the move provocative. Physical clashes broke out when the supporters tried to prevent the lawmakers from leaving the building under police escort.
Sweeping policy changes under US Secretary of Health and Human Services Robert F. Kennedy Jr are having a chilling effect on vaccine makers as anti-vaccine rhetoric has turned into concrete changes in inoculation schedules and recommendations, investors and executives said. The administration of US President Donald Trump has in the past year upended vaccine recommendations, with the country last month ending its longstanding guidance that all children receive inoculations against flu, hepatitis A and other diseases. The unprecedented changes have led to diminished vaccine usage, hurt the investment case for some biotechs, and created a drag that would likely dent revenues and
Macronix International Co (旺宏), the world’s biggest NOR flash memory supplier, yesterday said it would spend NT$22 billion (US$699.1 million) on capacity expansion this year to increase its production of mid-to-low-density memory chips as the world’s major memorychip suppliers are phasing out the market. The company said its planned capital expenditures are about 11 times higher than the NT$1.8 billion it spent on new facilities and equipment last year. A majority of this year’s outlay would be allocated to step up capacity of multi-level cell (MLC) NAND flash memory chips, which are used in embedded multimedia cards (eMMC), a managed
CULPRITS: Factors that affected the slip included falling global crude oil prices, wait-and-see consumer attitudes due to US tariffs and a different Lunar New Year holiday schedule Taiwan’s retail sales ended a nine-year growth streak last year, slipping 0.2 percent from a year earlier as uncertainty over US tariff policies affected demand for durable goods, data released on Friday by the Ministry of Economic Affairs showed. Last year’s retail sales totaled NT$4.84 trillion (US$153.27 billion), down about NT$9.5 billion, or 0.2 percent, from 2024. Despite the decline, the figure was still the second-highest annual sales total on record. Ministry statistics department deputy head Chen Yu-fang (陳玉芳) said sales of cars, motorcycles and related products, which accounted for 17.4 percent of total retail rales last year, fell NT$68.1 billion, or
In the wake of strong global demand for AI applications, Taiwan’s export-oriented economy accelerated with the composite index of economic indicators flashing the first “red” light in December for one year, indicating the economy is in booming mode, the National Development Council (NDC) said yesterday. Moreover, the index of leading indicators, which gauges the potential state of the economy over the next six months, also moved higher in December amid growing optimism over the outlook, the NDC said. In December, the index of economic indicators rose one point from a month earlier to 38, at the lower end of the “red” light.