Thu, Jan 19, 2012 - Page 12 News List

MOF looks for ways to boost tax base

By Amy Su  /  Staff Reporter

Minister of Finance Lee Sush-der (李述德) said yesterday he expects the legislature this year to prioritize the passing of an energy tax and amending tax laws related to the implementation of a tax based on the actual selling price of property.

“Imposing an energy tax would help increase energy efficiency, while amending tax laws could help the government speed up the implementation of certain taxes,” Lee told a press conference.

Although many tax experts have said Taiwan needs a property tax based on actual transaction prices, it is more important to ensure supplementary tax laws are amended to support the levy of the tax on the actual selling price, Lee said.

The Ministry of Finance (MOF) also wants the legislature to amend laws expanding the levying of capital gains taxes, Lee said.

To address the wealth gap, Lee said that adjusting some taxes could improve income distribution, but that increasing income was a more important objective.

As for recent uncertainty arising from the eurozone debt crisis, Lee said the government was prepared to take “proper measures,” such as tax cuts, to boost the economy if problems persist.

“If Europe goes into recession, Taiwan’s exports and employment could be affected,” Lee said.

However, he said he does not expect the debt crisis to negatively affect Taiwan’s economy.

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