The Cabinet yesterday approved a draft amendment to the Commodity Tax Act (貨物稅條例) to extend the tax reduction period for people who trade in heavy-duty diesel vehicles for newer models, the Ministry of Finance said in a statement.
The amendment would extend the period to 2026, it said.
Buyers of diesel buses and trucks can receive a NT$400,000 tax break until the end of this year under the act.
Photo courtesy of the Executive Yuan
The incentive applies to owners of diesel vehicles manufactured before Sept. 30, 2006, or those made before Dec. 31, 2006, and had received an emissions conformity certificate from the Environmental Protection Administration (EPA).
The extension of the tax break is intended to help reduce air pollution and to contribute to Taiwan’s goal to reach net zero carbon emissions by 2050, the ministry said.
About 78,000 heavy-duty diesel vehicles remain in use that meet the EPA’s older level 1 to level 3 emissions standards, it said, adding that they do not meet one of the three higher levels, the tightest being level 6.
About 39,500 heavy-duty diesel vehicles had been phased out by the end of October through the government’s tax reduction incentive, the ministry said.
Deputy Minister of Finance Chuang Tsui-yun (莊翠雲) said the draft amendment for a four-year extension was drawn up to encourage the disuse of the remaining diesel buses and trucks.
The proposed amendment is to be reviewed by the legislature before being put to a vote.
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