Fri, Sep 04, 2009 - Page 12 News List

ECCT says taxes are too high in Taiwan

By Shih Hsiu-chuan  /  STAFF REPORTER

The European Chamber of Commerce Taipei (ECCT) yesterday said the government should cut income tax for foreign executives to encourage them to relocate to Taiwan.

The business group said Taiwan levied a heavier income tax than neighboring countries, which made its difficult to bring talent here.

The ECCT made the proposal during a meeting with senior Taiwanese economic officials yesterday. The ECCT represents 370 multinational companies and 650 businesspeople from more than 30 countries.

Philippe Pellegrin, chairman of the business association, led a 12-member team to meet Vice Premier Paul Chiu (邱正雄) yesterday to provide advice on economic policies.

The group said it hoped the government would reduce the income tax rate to help ECCT members recruit senior executives to Taiwan, Chen said.

Most foreign executives working for ECCT companies are levied the highest income tax rate — 40 percent — because of their good pay.

The ECCT expressed its opposition to a government plan to levy taxes on luxury goods and ­investment-oriented insurance tools, Chen said.

The ECCT also said the government should provide international bidders with English-version procurement documents when launching bids for government procurement projects, Chen said.

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