The Chinese Nationalist Party (KMT) yesterday voiced support for lowering the business income tax rate to 17 percent, increasing the likelihood the legislature will finalize the tax cut when it reviews a disputed draft bill on promoting innovative industries on Friday.
The KMT caucus reached a consensus after holding a meeting yesterday, KMT caucus whip Lin Yi-shih (林益世) told reporters.
The tax rate is 20 percent. The cut, if implemented, could cost state coffers NT$34.3 billion (US$1 billion) in tax revenues.
The caucus also said it would insist on granting businesses tax breaks for innovation as an incentive to encourage companies to innovate and research, Lin said.
However, the caucus agreed to cancel tax breaks proposed for nurturing talent and the establishment of operation headquarters and logistics centers, he said.
It would also insist on granting small and medium businesses a cash stipend of NT$10,000 for every additional employee the firms hire, Lin said, adding that the caucus would immediately negotiate the tax cut with the Democratic Progressive Party caucus.
The decision came after the Presidential Office issued a press release on Sunday saying the KMT never ruled out the possibility of lowering the tax rate, adding that such a cut would help attract foreign investors and multinational corporations to establish their Asia-Pacific operation headquarters in Taiwan.
Hong Kong singer Eason Chan’s (陳奕迅) concerts in Kaohsiung this weekend have been postponed after he was diagnosed with Covid-19 this morning, the organizer said today. Chan’s “FEAR and DREAMS” concert which was scheduled to be held in the coming three days at the Kaohsiung Arena would be rescheduled to May 29, 30 and 31, while the three shows scheduled over the next weekend, from May 23 to 25, would be held as usual, Universal Music said in a statement. Ticket holders can apply for a full refund or attend the postponed concerts with the same seating, the organizer said. Refund arrangements would
Former president Tsai Ing-wen (蔡英文) on Monday called for greater cooperation between Taiwan, Lithuania and the EU to counter threats to information security, including attacks on undersea cables and other critical infrastructure. In a speech at Vilnius University in the Lithuanian capital, Tsai highlighted recent incidents in which vital undersea cables — essential for cross-border data transmission — were severed in the Taiwan Strait and the Baltic Sea over the past year. Taiwanese authorities suspect Chinese sabotage in the incidents near Taiwan’s waters, while EU leaders have said Russia is the likely culprit behind similar breaches in the Baltic. “Taiwan and our European
Taiwanese indie band Sunset Rollercoaster and South Korean outfit Hyukoh collectively received the most nominations at this year’s Golden Melody Awards, earning a total of seven nods from the jury on Wednesday. The bands collaborated on their 2024 album AAA, which received nominations for best band, best album producer, best album design and best vocal album recording. “Young Man,” a single from the album, earned nominations for song of the year and best music video, while another track, “Antenna,” also received a best music video nomination. Late Hong Kong-American singer Khalil Fong (方大同) was named the jury award winner for his 2024 album
The US Department of State on Monday reaffirmed that US policy on Taiwan remains unchanged, following US President Donald Trump’s use of the term “unification” while commenting on recent trade talks with China. Speaking at a wide-ranging press conference, Trump described what he viewed as progress in trade negotiations with China held in Geneva, Switzerland, over the weekend. “They’ve agreed to open China — fully open China, and I think it’s going to be fantastic for China. I think it’s going to be fantastic for us,” Trump said. “I think it’s going to be great for unification and peace.” Trump’s use of the
RSS