Minister of Finance Chang Sheng-ford (張盛和) said yesterday that the ministry would consider reviewing the capital gains tax on stock investments at the end of this year at the earliest.
Chang made the comments after the Chinese-language United Evening News reported that President Ma Ying-jeou (馬英九) said in an interview that the government would be willing to review the securities capital gains tax, without giving a timeframe.
The government launched the capital gains tax levy on stock investments on Jan. 1.
“Now is not the right time [to revise the tax],” Chang told reporters, while responding to the report.
He said the capital gains tax is an annual tax, adding that the government should review this kind of tax after it has been implemented for a full year.
Therefore, the end of this year may be an appropriate time to review the tax, he said.
Chang reiterated that the introduction of the tax was not the sole factor to impact the local stock market.
He said he expected the stock market to show an improvement in the second half of this year, following the gradual amelioration of global and domestic uncertainties.