While failing to pass a proposed amendment to the Offshore Islands Development Law (離島建設條例) to legalize casinos, the legislature, in its last session as a 225-member body, passed an amendment yesterday to allow the setting up of tax-free shops on outlying islands.
Under the amendment, shop owners in Kinmen, Matsu and Penghu counties will be able to sell tax-free products after getting approval from customs officials and local governments, and visitors will be able to bring specified amounts of tax-free products with them.
Shops that fail to register their duty-free status with their local governments or follow the regulations could be fined between NT$6,000 and NT$30,000 and lose their business licenses for up to a year.
Lawmakers also approved a free-trade agreement (FTA) with El Salvador and Honduras that was signed in May. After the FTA comes into force, 3,590 Taiwanese products will receive tariff-free treatment in El Salvador and 3,881 will receive the same in Honduras. In return, Taiwan will lift tariffs on 5,688 Salvadoran products and 6,135 Honduran products.
El Salvador will reduce taxes on 439 Taiwanese agricultural products and 3,151 industrial products, and Honduras will reduce taxes on 430 agricultural products and 3,451 industrial products from Taiwan.
The Cabinet's NT$44.5 billion (US$130 million) budget for a second-stage flood prevention plan, scheduled to start in the next fiscal year and end in fiscal 2010, also passed.
The budget, which includes NT$3.5 billion for the establishment of rainwater drainage systems in flood-prone areas and NT$40.9 billion for the improvement of river and regional drainage systems in these areas, will be given to government agencies under debt instruments.
The legislature also passed an amendment to the regulations of the Social Assistance Act (社會救助法) to lower the qualifications to be considered a "low-income family," which will allow about 45,000 additional people to apply for social subsidies.
Amendments to the Status Governing Urban Renewal (都市更新條例) were passed that will simplify the application process for urban renewal projects in a bid to stimulate the housing market and the economy.
The Act Governing the Establishment of a Cultural Foundation for Indigenous Peoples (
The legislature also passed an amendment to the Petroleum Management Law (
The amendment, which was submitted by the Ministry of Economic Affairs, will lower the threshold for new companies interested in joining the oil import trade, thereby undercutting the duopoly enjoyed by CPC Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化), political observers said.
The amendment stipulates that in an emergency situation, the ministry could restrict the export of petroleum and other oil products by private companies.
Lawmakers failed to pass proposed amendments to the Labor Insurance Law (
Wang condemned the Chinese Nationalist Party (KMT) for ignoring the rights of laborers, and warned that the labor pension system could be destroyed after a national pension system is implemented next year, as more than 200,000 retirees will be able to transfer their labor pensions to the national pension system.
Additional reporting by CNA
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