The Cabinet yesterday approved an amendment to the Act for the Establishment and Management of Free Ports (自由貿易港區設置管理條例) that would grant foreign companies income tax exemption, in a bid to attract multinational logistics enterprises.
Draft article 29 of the amendment states that a foreign enterprise or its branch registered in the country, which — by itself or entrusting a company in the free port — engages in storage or simple reprocessing and makes delivery of the foreign company’s products to customers abroad shall be exempted from business income tax.
If the products are sold to customers domestically, the company will be taxed business income tax when its domestic sales accounts for less than 10 percent of aggregate sales.
The amendment suggested lowering the minimum number of Aboriginal laborers that companies in free ports are required to hire from 5 percent of total staff to 1 percent.
It stipulated that the government would provide various subsidies to businesses whose Aboriginal laborers made up between 1 percent and 3 percent of its work force.
“The revisions will help remove obstacles impeding multinational companies from investing in the country’s free ports,” said Yin Cheng-peng (尹承蓬), the head of the Department of Navigation and Aviation under the Ministry of Transportation and Communication (MOTC).
Also approved at the Cabinet meeting was a draft bill designed to set up a state-owned company to manage the Taoyuan International Airport Zone, a planned free trade zone near the Taiwan Taoyuan International Airport where businesses will enjoy preferential taxes and fewer labor restrictions.
Lee Lung-wen (李龍文), director-general of the MOTC’s Civil Aviation Administration, said that the government would put NT$28 billion (US$829.7 million) into the company that will have a staff of about 462.
PRAISE: Japanese visitor Takashi Kubota said the Taiwanese temple architecture images showcased in the AI Art Gallery were the most impressive displays he saw Taiwan does not have an official pavilion at the World Expo in Osaka, Japan, because of its diplomatic predicament, but the government-backed Tech World pavilion is drawing interest with its unique recreations of works by Taiwanese artists. The pavilion features an artificial intelligence (AI)-based art gallery showcasing works of famous Taiwanese artists from the Japanese colonial period using innovative technologies. Among its main simulated displays are Eastern gouache paintings by Chen Chin (陳進), Lin Yu-shan (林玉山) and Kuo Hsueh-hu (郭雪湖), who were the three young Taiwanese painters selected for the East Asian Painting exhibition in 1927. Gouache is a water-based
A magnitude 4.1 earthquake struck eastern Taiwan's Hualien County at 2:23pm today, according to the Central Weather Administration (CWA). The epicenter of the temblor was 5.4 kilometers northeast of Hualien County Hall, at a depth of 34.9 km, according to the CWA. The earthquake's intensity, which gauges the actual effect of a temblor, was the highest in Hualien County, where it measured 2 on Taiwan's 7-tier intensity scale. The quake also measured an intensity of 1 in Yilan county, Taichung, Nantou County, Changhua County and Yunlin County, the CWA said. There were no immediate reports of damage or injuries.
OFF-TARGET: More than 30,000 participants were expected to take part in the Games next month, but only 6,550 foreign and 19,400 Taiwanese athletes have registered Taipei city councilors yesterday blasted the organizers of next month’s World Masters Games over sudden timetable and venue changes, which they said have caused thousands of participants to back out of the international sporting event, among other organizational issues. They also cited visa delays and political interference by China as reasons many foreign athletes are requesting refunds for the event, to be held from May 17 to 30. Jointly organized by the Taipei and New Taipei City governments, the games have been rocked by numerous controversies since preparations began in 2020. Taipei City Councilor Lin Yen-feng (林延鳳) said yesterday that new measures by
President William Lai (賴清德) has appointed former vice president Chen Chien-jen (陳建仁) to attend the late Pope Francis’ funeral at the Vatican City on Saturday on his behalf, the Ministry of Foreign Affairs said today. The Holy See announced Francis’ funeral would take place on Saturday at 10am in St Peter’s Square. The ministry expressed condolences over Francis’ passing and said that Chen would represent Taiwan at the funeral and offer condolences in person. Taiwan and the Vatican have a long-standing and close diplomatic relationship, the ministry said. Both sides agreed to have Chen represent Taiwan at the funeral, given his Catholic identity and
RSS