Chinese Nationalist Party (KMT) Legislator Chang Hsien-yao (張顯耀) said yesterday that he planned to launch a proposal that would allow taxpayers to list tickets to sports events as tax deductible.
“I have used examples in the US and Europe as a reference. Tickets to sports games are deductible in other countries,” Chang told reporters.
“The regulation could help boost secondary consumption in the sports industry, which is estimated to be at least US$50 billion. This will help promote sports events in Taiwan,” he said.
In accordance with Chang’s plan, taxpayers, their spouses and their dependents would enjoy a maximum NT$10,000 sports events deductible quota per individual when reporting their income tax.
Chang’s proposal was among several tax deduction plans proposed by lawmakers and the government recently.
On March 25, KMT Legislator Lai Shyh-bao (賴士葆) of the Finance Committee proposed introducing an NT$30,000 per individual consumption deduction regulation to the Income Tax Act (所得稅法).
Lai said at the time that the nation’s tax revenue would only decrease by NT$5.8 billion (US$175,000) through his proposal.
The Council for Cultural Affairs (CCA) also proposed the idea of allowing taxpayers to deduct expenditure on tickets to art events — a maximum of NT$12,000 per person — from their annual tax reports.
The proposal was seen as an incentive to encourage the public to participate in arts events and boost the art sector.
The CCA’s plan had met with opposition from the Ministry of Finance, which said the nation’s tax revenue could drop by NT$6.5 billion should the plan be approved.
When approached for comment in Taoyuan, Executive Yuan Spokesman Su Jun-pin (蘇俊賓) emphasized the need to thoroughly consider the effect on the nation’s coffers.
“[We should consider] whether [Chang’s proposal] would really help boost the [sports] industry and whether it would deal a blow to the nation’s finances,” he said.
A NT$39 receipt for two bottles of tea at a FamilyMart was among the NT$10 million (US $312,969) special prize winners in the January-February uniform invoice lottery. FamilyMart said that two NT$10 million-winning receipts were issued at its stores, as well as two NT$2 million grand prizes and three NT$200,000 first prizes. The two NT$10 million receipts were issued at stores in Pingtung County and Yilan County’s Dongshan Township (冬山). One winner spent just NT$39 on two bottles of tea, while another spent NT$80 on water, tea and coffee, the company said. Meanwhile, 7-Eleven reported three NT$10 million winners — in New Taipei
Considering that most countries issue more than five denominations of banknotes, the central bank has decided to redesign all five denominations, the bank said as it prepares for the first major overhaul of the banknotes in more than 24 years. Central bank Governor Yang Chin-lung (楊金龍) is expected to report to the Legislative Yuan today on the bank’s operations and the redesign’s progress. The bank in a report sent to the legislature ahead of today’s meeting said it had commissioned a survey on the public’s preferences. Survey results showed that NT$100 and NT$1,000 banknotes are the most commonly used, while NT$200 and NT$2,000
ANNUAL EVENT: Two massive Pokemon balloons are to be set up in Daan Park, with an event zone operating from 10am to 6pm This year’s Taipei Floral Picnic is to be held at Daan Park today and tomorrow, featuring an exclusive Pokemon Go event, a themed food market, a coffee rave picnic area and stage performances, the Taipei Department of Information and Tourism said yesterday. Two massive Pokemon balloons are to be set up in the park as attractions, with an exclusive event zone operating from 10am to 6pm, it said. Participants who complete designated tasks on-site would have a chance to receive limited-edition souvenirs, it added. People could also try the newly launched game Pokemon Pokopia in the trial area, the department said. Three PokeStops are
Taiwan is concerned that China could exploit the US’ war in the Middle East, with state media citing examples from the conflict to cast doubt on the efficiency of US weapons Taiwan would use to repel an invasion. Taiwanese officials said the resumption of Beijing’s large-scale air force incursions near Taiwan after an unusual decline show that China wants to take advantage of the redeployment of US forces from East Asia to the Middle East. “This is a moment for China to exercise influence,” a senior Taiwanese security official said, speaking on condition of anonymity. “What China is trying to create is a
RSS