Taipei Times
Date: , Mar 10, 2017
By: Ted Chen / Staff reporter

The Financial Supervisory Commission (FSC) yesterday said that a proposed bill to reduce tax on day-trading transactions would boost average daily turnover on the local bourse by NT$25 billion (US$805.93 million).

The estimate was given by FSC Chairman Lee Ruey-tsang (李瑞倉) at a meeting of the Legislative Yuan’s Finance Committee.

Halving the tax from 0.003 percent to 0.0015 percent would increase daily turnover at the Taiwan Stock Exchange by about NT$16 billion, while daily transactions at the Taipei Exchange would see gains of about NT$9 billion per day, Lee said.

The bill has been approved by the Executive Yuan and is expected to be reviewed by the legislature in the next few weeks.    [FULL  STORY]