The Legislative Yuan yesterday passed the third reading of amendments to the Commodity Tax Act (貨物稅條例) that extend tax incentives to encourage people to replace their old vehicles and purchase new ones.
The amendment to Article 12-5 of the act extends the NT$50,000 tax deduction on replacing old vehicles, including sedans, mini trucks and light passenger-cargo dual-purpose cars — such as pickups — to purchase new ones from Jan. 1 next year to Dec. 31, 2030.
A NT$4,000 tax deduction for replacing old motorcycles with new ones has also been extended to 2030.
Photo: Tsai Yun-jung, Taipei Times
The amendments also offer a NT$50,000 deduction on purchases of new passenger sedans that have an engine displacement of 2,000cc or less, and NT$2,000 on purchases of new 150cc motorcycles.
That means a vehicle owner who scraps his vehicle and buys a new 2,000cc or smaller passenger sedan would enjoy the existing NT$50,000 tax deduction on top of the NT$50,000 deduction approved in the new amendment.
During a legislative committee review of the proposed amendment on Thursday last week, Deputy Minister of Economic Affairs Ho Chin-tsang (何晉滄) told lawmakers the expanded tax deduction is expected to help first-time buyers, with local automakers looking forward to swift passage of the bill.
Minister of Finance Chuang Tsui-yun (莊翠雲) told lawmakers that the bill meets public expectations and would encourage purchases of more energy-efficient vehicles.
The commodity tax is a major cost in buying a new vehicle in Taiwan, whether it is domestically manufactured or imported, with the tax rates for passenger sedans set at 25 to 30 percent.
The number of electric vehicles sold in Taiwan rose from 1 percent of all new registered cars in 2020 to 7.7 percent of the total of 35,406 vehicles last year, thanks to the commodity tax exemption over the past decade, the Ministry of Finance said in a statement on Thursday last week.
Eight Chinese naval vessels and 24 military aircraft were detected crossing the median line of the Taiwan Strait between 6am yesterday and 6am today, the Ministry of National Defense said this morning. The aircraft entered Taiwan’s northern, central, southwestern and eastern air defense identification zones, the ministry said. The armed forces responded with mission aircraft, naval vessels and shore-based missile systems to closely monitor the situation, it added. Eight naval vessels, one official ship and 36 aircraft sorties were spotted in total, the ministry said.
The Ministry of Foreign Affairs (MOFA) today said that if South Korea does not reply appropriately to its request to correct Taiwan’s name on its e-Arrival card system before March 31, it would take corresponding measures to alter how South Korea is labeled on the online Taiwan Arrival Card system. South Korea’s e-Arrival card system lists Taiwan as “China (Taiwan)” in the “point of departure” and “next destination” fields. The ministry said that it changed the nationality for South Koreans on Taiwan’s Alien Resident Certificates from “Korea” to “South Korea” on March 1, in a gesture of goodwill and based on the
Taiwanese officials were shown the first of 66 F-16V fighter jets purchased by Taiwan from the United States, the Ministry of National Defense said yesterday, adding the aircraft has completed an initial flight test and is expected to be delivered later this year. A delegation led by Deputy Minister of National Defense Hsu Szu-chien (徐斯儉) visited Lockheed Martin’s F-16 C/D Block 70 (also known as F-16V) assembly line in South Carolina on March 16 to view the aircraft. The jet will undergo a final acceptance flight in the US before being delivered to Taiwan, the
The New Taipei Metro's Sanyin Line and the eastern extension of the Taipei Metro's Tamsui-Xinyi Line (Red Line) are scheduled to begin operations in June, the National Development Council said today. The Red Line, which terminates at Xiangshan Station, would be connected by the 1.4km extension to a new eastern terminal, Guangci/Fengtian Temple Station, while the Sanyin Line would link New Taipei City's Tucheng and Yingge stations via Sanxia District (三峽). The council gave the updates at a council meeting reviewing progress on public construction projects for this year. Taiwan's annual public infrastructure budget would remain at NT$800 billion (US$25.08 billion), with NT$97.3
RSS