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Commodity tax reduction bill skips first reading

The legislature yesterday agreed to put a proposed amendment to lower business taxes on four food staples directly to a second reading to help stabilize soaring commodity prices.

During the plenary session yesterday morning, the Legislative Yuan approved a proposal by the Chinese Nationalist Party (KMT) and the Democratic Progressive Party (DPP) caucuses to allow the proposed amendment to the Value-added and Non Value-added Business Tax Act (加值型及非加值型營業稅法) -- which would allow the authorities to reduce taxes on corn, wheat, barley and soybeans -- to skip the first reading.

The legislature decided that the DPP caucus would be in charge of convening cross-party negotiation sessions to discuss the proposed amendment.

The Cabinet passed and sent the proposed amendment to the legislature in December, but the proposal was not discussed before the legislative recess on Dec. 21.

The amendment was proposed in support of the government's effort to stabilize commodity prices and in view of the fact that the nation imports nearly 100 percent of its supplies of the four staples, whose prices are closely linked to that of crude oil.

The KMT and DPP caucuses had agreed on Wednesday on the immediate need to deal with soaring commodity prices.

Lin Yi-shih (林益世), director of the KMT's Policy Research Committee, said on Wednesday that the proposed amendment could pass its third reading next Wednesday or Thursday at the earliest.

The legislature also passed a DPP caucus proposal to move a proposed amendment to the Public Functionary Assets Disclosure Law (公職人員財產申報法) that would oblige legislators to place their property in trusts; an amendment to the Civil Servant Conflict of Interests Prevention Act (公務人員利益迴避法) that would widen the scope of the law; and an amendment to the Political Donation Law (政治獻金法) that would stipulate a maximum amount for donations directly to a second reading.

A proposed amendment to the Legislators' Conduct Act (立法委員行為法) that would allow the speaker to call in police to remove legislators who obstruct debate failed to make it to the agenda.

Also see: Tax plan may not delight consumers
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