A proposal to extend tax rebates on energy-saving home appliances for another two years has been approved by the Cabinet and is to be submitted to the legislature for review, Executive Yuan spokesman Lo Ping-cheng (羅秉成) said yesterday.
If lawmakers approve the amendments to the Commodity Tax Act (貨物稅條例), the incentives would continue until June 14, 2023, allowing a rebate of up to NT$2,000 (US$70.09) on new refrigerators, air-conditioners and dehumidifiers if they meet energy efficiency standards, Lo told reporters.
The Ministry of Finance, which submitted the proposal to the Cabinet for the incentives to be extended, said that there are still approximately 12.42 million air-conditioners and refrigerators more than 10 years old in homes in Taiwan — about 42.72 percent of those in domestic use.
Photo: Wu Pei-hua, Taipei Times
The continuation of the incentives, which were introduced in June 2019, would encourage more people to buy energy-efficient appliances, the ministry said.
Since June 2019, the incentive program has helped to save about 400 million kilowatt-hours of electricity per year, reducing energy bills and cutting carbon emissions by 220,000 tonnes, Lo said, citing data that Premier Su Tseng-chang (蘇貞昌) presented at a Cabinet meeting earlier in the day.
If the incentives are extended, refunds can be claimed by people who buy appliances that reach the “level 1” or “level 2” energy efficiency standards specified in a Bureau of Energy rating system.
UNPRECEDENTED PACE: Micron Technology has announced plans to expand manufacturing capabilities with the acquisition of a new chip plant in Miaoli Micron Technology Inc unveiled a newly acquired chip plant in Miaoli County yesterday, as the company expands capacity to meet growing demand for advanced DRAM chips, including high-bandwidth memory chips amid the artificial intelligence boom. The plant in Miaoli County’s Tongluo Township (銅鑼), which Micron acquired from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion, is expected to make a sizeable capacity contribution to the company from fiscal 2028, the company said in a statement. It would be an extended production site of Micron’s large-scale manufacturing hub in Taichung, the company said. As the global semiconductor industry is racing to reach US$1 trillion
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
Memory chip stocks extended their losses yesterday after Alphabet Inc’s Google publicized research that could allow more efficient use of the storage needed for artificial intelligence (AI) development. SK Hynix Inc and Samsung Electronics Co, South Korean leaders in the market, fell more than 6 percent and about 5 percent respectively in Seoul. In the US, Micron Technology Inc, Western Digital Corp and Sandisk Corp slid more than 2 percent in pre-market trading, after they all closed lower on Wednesday. Memory companies have been on a tear in recent months as the rapid development of AI infrastructure triggered a spike in chip