Premier William Lai (賴清德) approved a corporate income tax credit plan to boost investment in smart machinery and 5G Internet, the Ministry of Economic Affairs said yesterday.
The measure could increase business spending on smart machinery and 5G Internet by more than 1.4 trillion (US$45.39 billion) over the next four years, Deputy Minister of Economic Affairs Tseng Wen-sheng (曾文生) said.
The ministry drafted a bill to make tax credits available by amending Article 10 of the Act for Industrial Innovation (產業創新條例), the ministry said, adding that Lai approved the draft at a meeting of the Executive Yuan earlier yesterday.
The proposed tax credits would be applicable to businesses in the manufacturing, agriculture and service sectors, among others, which spend at least NT$1 million on equipment, technology or services that are smart-machinery or 5G Internet-related, the ministry said.
Businesses are to have the option of taking a one-time 5 percent tax credit for one year or a 3 percent tax credit over three years, it said.
The tax credits are capped at 30 percent of total corporate income tax for a tax year, while corporate expenditure would be capped at NT$100 million when applying for the tax credit, it said.
Should the draft be approved by the Legislative Yuan and become law, the tax credits would take effect retroactively from Jan. 1 to the end of 2023, although tax credits would only be available for 5G Internet-related purchases in 2023, the ministry said.
In response to the global emergence of Industry 4.0, or the fourth industrial revolution, the government deems the next three years a critical period for promoting smart manufacturing, smart industry upgrades, 5G Internet, artificial intelligence and the Internet of Things, the ministry said.
As the full commercialization of 5G servers is anticipated in 2020, the government is to facilitate “smart living” by leveraging applied Internet technology, it said.
There are 77 incidents of Taiwanese travelers going missing in China between January last year and last month, the Straits Exchange Foundation (SEF) said. More than 40 remain unreachable, SEF Secretary-General Luo Wen-jia (羅文嘉) said on Friday. Most of the reachable people in the more than 30 other incidents were allegedly involved in fraud, while some had disappeared for personal reasons, Luo said. One of these people is Kuo Yu-hsuan (郭宇軒), a 22-year-old Taiwanese man from Kaohsiung who went missing while visiting China in August. China’s Taiwan Affairs Office last month said in a news statement that he was under investigation
An aviation jacket patch showing a Formosan black bear punching Winnie the Pooh has become popular overseas, including at an aviation festival held by the Japan Air Self-Defense Force at the Ashiya Airbase yesterday. The patch was designed last year by Taiwanese designer Hsu Fu-yu (徐福佑), who said that it was inspired by Taiwan’s countermeasures against frequent Chinese military aircraft incursions. The badge shows a Formosan black bear holding a Republic of China flag as it punches Winnie the Pooh — a reference to Chinese President Xi Jinping (習近平) — who is dressed in red and is holding a honey pot with
Celebrations marking Double Ten National Day are to begin in Taipei today before culminating in a fireworks display in Yunlin County on the night of Thursday next week. To start the celebrations, a concert is to be held at the Taipei Dome at 4pm today, featuring a lineup of award-winning singers, including Jody Chiang (江蕙), Samingad (紀曉君) and Huang Fei (黃妃), Taipei tourism bureau official Chueh Yu-ling (闕玉玲) told a news conference yesterday. School choirs, including the Pqwasan na Taoshan Choir and Hngzyang na Matui & Nahuy Children’s Choir, and the Ministry of National Defense Symphony Orchestra, flag presentation unit and choirs,
China is attempting to subsume Taiwanese culture under Chinese culture by promulgating legislation on preserving documents on ties between the Minnan region and Taiwan, a Taiwanese academic said yesterday. China on Tuesday enforced the Fujian Province Minnan and Taiwan Document Protection Act to counter Taiwanese cultural independence with historical evidence that would root out misleading claims, Chinese-language media outlet Straits Today reported yesterday. The act is “China’s first ad hoc local regulations in the cultural field that involve Taiwan and is a concrete step toward implementing the integrated development demonstration zone,” Fujian Provincial Archives deputy director Ma Jun-fan (馬俊凡) said. The documents
RSS