The Cabinet today approved a draft amendment to the Commodity Tax Act (貨物稅條例) that would extend tax breaks on select energy-saving appliances until the end of 2027.
Article 11-1 of the act stipulates that a commodity tax cut of up to NT$2,000 (US$62.37) would be given for purchases of new refrigerators, air-conditioners or dehumidifiers that meet either Level 1 or 2 energy-saving standard specified under the Bureau of Energy’s energy-efficiency rating program from June 15, 2023, to June 14 this year.
The Executive Yuan proposed to lengthen the tax deduction period to Dec. 31, 2027, with the possibility of extending it for a maximum of two more years after that.
Photo: CNA
The amendment is to be sent to the legislature for discussion.
Taxation Administration Director Sung Hsiu-ling (宋秀玲) said the tax break that has been in place since June 15, 2019, has yielded satisfactory results.
As of March, 12.71 million applications for tax deductions had been filed, which translates into tax savings of NT$21.1 billion, Ministry of Finance data showed.
It is estimated that 515 million kilowatt-hours of electricity could be saved per year, possibly lowering electricity costs by NT$1.778 billion and cutting carbon emission by 25.44 tonnes, Sung said.
Cabinet spokesperson Michelle Lee (李慧芝) cited Premier Cho Jung-tai (卓榮泰) as saying that the bill would help Taiwan achieve carbon neutrality by 2050.
It would encourage the public to buy energy-efficient appliances, raising the market penetration rate of such home appliances and facilitating industry upgrade, Cho said.
The finance ministry said it would work alongside the Ministry of Economic Affairs to communicate with lawmakers to push through the amendment.
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