The New Power Party (NPP) yesterday said it would propose amendments that would raise the inheritance and gift tax, increase penalties for companies interfering with workers’ unions and regulate private schools.
The proposal would involve changes to the Estate and Gift Tax Act (遺產及贈與稅法), the Labor Union Act (工會法) and the Private School Act (私立學校法), the NPP said.
The estate and gift tax rate was lowered to 10 percent in 2009, resulting in tax inequality and generational injustice, the party said.
The maximum limit on tax exemptions for gifting is currently NT$2.2 million (US$68,200) per person, which the NPP said is the highest among countries that have an estate tax system.
“The tax reduction is a legislation that caters to wealthy people. Thanks to the low tax rate and high tax exemption, the number of tax payments collected has increased, but the tax revenue has decreased,” NPP Executive Chairman Huang Kuo-chang (黃國昌) said.
The party plans to propose a progressive estate tax rate: a 10 percent tax would be levied on assets worth less than NT$13 million; 20 percent on assets valued between NT$13 million and NT$28 million; and 30 percent on assets worth more than NT$28 million.
A 10 percent gift tax would be levied on the transfer of property worth less than NT$1.5 million; 20 percent on gifted property worth between NT$1.5 million and NT$3.5 million; and 30 percent on property worth more than NT$3.5 million.
The party also aims to lower the maximum tax exemption for gifting to NT$1.5 million.
“Estimated estate and gift tax revenue would increase from about NT$23.2 billion now to NT$79.5 billion should the draft amendments be approved. That would improve social equality and generational justice by reducing inherited privilege and increasing social mobility,” Huang said.
The NPP will also propose amendments to the Labor Union Act that would increase the fine for employers interfering with workers’ unions from between NT$30,000 and NT$150,000 to between NT$300,000 and NT$1.5 million.
“We can see from the China Airlines’ case that employers can improperly obstruct the operation of a workers’ union and even attempt to dismiss employees actively involved in the union. The draft amendments are to make the toothless Labor Union Act more effective,” Huang said.
As for the Private School Act, the party plans to increase public oversight.
Private schools accommodate more than 70 percent of the nation’s students and more than 60 percent of the nation’s teachers, so the management of those schools is of great importance.
However, private schools are often managed by members of a wealthy family, which sometimes leads to illegal transfers of school assets for personal benefit,” NPP Legislator Hsu Yung-ming (徐永明) said.
The draft amendments would seek to improve transparency and diversify ownership of private schools, Hsu said.
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