Chinese Nationalist Party (KMT) presidential candidate Ma Ying-jeou (馬英九) yesterday unveiled his economic policies, proposing a tax relief plan that would include tax refunds for low-income families if he is elected president next month.
Ma promised to include a budget of NT$25 billion (US$700 million) each year for tax refunds to families whose annual income was under NT$480,000.
Families with annual incomes of NT$360,000 or less do not pay tax. Such families would also receive a subsidy that equaled 13 percent of their annual income, or up to NT$46,800, per year under his proposal, Ma said.
Ma said about 900,000 low income families, or 3.2 million people, would benefit from his policy.
Ma said that he would increase the individual taxable income limit from NT$78,000 to NT$100,000, raise taxable educational expenses to NT$25,000 and increase deductible inheritance tax from NT$13 million per household to NT$26 million.
"I will not answer any questions other than on my economic policies. I have stressed the importance for Taiwan that we revive the economy and I believe this is what people want from a presidential candidate," Ma said yesterday during a press conference in Taipei, refusing to comment on his Democratic Progressive Party (DPP) counterpart Frank Hsieh's (
Insisting on discussing nothing but his tax relief platform, Ma further proposed to decrease the business tax rate from 25 percent to 20 percent, while canceling tax incentives for high-tech industry.
Canceling the tax incentives for the industry, Ma said, would help to increase tax income for the nation and eliminate the unfair taxation systems for different industries.
Ma said high-tech industries only contributed 5.8 percent of the nation's tax income, while traditional businesses were responsible for 14.8 percent.
Rather than encourage high-tech industries, Ma said he planned to give tax incentives to businesses that showed innovation.
Ma also pledged to promote a "green" tax plan, by levying an energy tax to reduce greenhouse gas emissions, cut energy use and aid the environment.
The income from the green tax would be used to subsidize companies for implementing energy saving measures and for public transportation schemes.
The tax policies would cut NT$35 billion from annual tax income, but other economic plans would contribute to the nation's economic growth and therefore increase taxable income, balancing the loss in revenues that the changes would bring, Ma said.
Four factors led to the declaration of a typhoon day and the cancelation of classes yesterday, Taipei Mayor Chiang Wan-an (蔣萬安) said. Work and classes were canceled across Taiwan yesterday as Typhoon Krathon was forecast to make landfall in the southern part of the country. However, northern Taiwan had only heavy winds during the day and rain in the evening, leading some to criticize the cancelation. Speaking at a Taipei City Council meeting yesterday, Chiang said the decision was made due to the possibility of landslides and other problems in mountainous areas, the need to avoid a potentially dangerous commute for those
Typhoon Krathon, a military airshow and rehearsals for Double Ten National Day celebrations might disrupt flights at Taiwan Taoyuan International Airport in the first 10 days of next month, the airport’s operator said yesterday. Taoyuan International Airport Corp said in a statement that it has established a response center after the Central Weather Administration issued a sea warning for Krathon, and urged passengers to remain alert to the possibility of disruptions caused by the storm in the coming days. Flight schedules might also change while the air force conducts rehearsals and holds a final airshow for Double Ten National Day, it added. Although
SEMICONDUCTORS: TSMC is able to produce 2-nanometer chips and mass production is expected to be launched by next year, the company said In leading-edge semiconductor manufacturing China is behind Taiwan Semiconductor Manufacturing Co (TSMC) by at least 10 years as the Taiwanese chipmaker’s manufacturing process has progressed to 2 nanometers, National Science and Technology Council (NSTC) Minister Wu Cheng-wen (吳誠文) said yesterday. Wu made the remarks during a meeting of the Legislative Yuan’s Education and Culture Committee when asked by Democratic Progressive Party Legislator Wu Pei-yi (吳沛憶) about a report published in August by the Chinese version of Nikkei Asia that said Taiwan’s lead over China in chip manufacturing was only three years. She asked Wu Cheng-wen if the report was an accurate
PRO-CHINA SLOGANS: Two DPP members criticized police officers’ lack of action at the scene, saying that law enforcement authorities should investigate the incident Chinese tourists allegedly interrupted a protest in Taipei on Tuesday held by Hong Kongers, knocked down several flags and shouted: “Taiwan and Hong Kong belong to China.” Hong Kong democracy activists were holding a demonstration as Tuesday was China’s National Day. A video posted online by civic group Hong Kong Outlanders shows a couple, who are allegedly Chinese, during the demonstration. “Today is China’s National Day, and I won’t allow the displaying of these flags,” the male yells in the video before pushing some demonstrators and knocking down a few flagpoles. Radio Free Asia reported that some of the demonstrators
RSS