Tax changes to be submitted
Minister of Finance Chang Sheng-ford (張盛和) said yesterday that the ministry might submit the revised version of the luxury tax to the legislature next month at the earliest. The new legislative session will formally open on Sept. 17. “We are collecting opinions from various aspects and analyzing necessary coordinated measures for revising the luxury tax,” Chang said.
Exchange reserves rise
The nation’s foreign exchange reserves increased by US$270 million last month from July, bringing total reserves to US$409.39 billion, the central bank said in a statement on Thursday. The central bank said the slight increase in foreign exchange reserves last month was the result of the depreciation of the euro and other currencies against the US dollar, which was less than returns from the bank’s management of its reserves.
AIDC strikes deal with GE
Aerospace Industrial Development Corp (AIDC, 漢翔航空) yesterday said a new contract with engine maker GE Aviation could create NT$2 billion (US$67.19 million) in sales for the company. The state-run company said the contract signed on Thursday would allow it to produce airplane engine model CFM56 over the next four years. Over the past 15 years, AIDC has received up to NT$3.5 billion in orders from GE Aviation.