PUSHBACK: Local governments oppose eliminating the tax, which generates about NT$12 billion in annual revenue, 100 percent of which goes to local administrations
Taipei Times
Date: Aug 30, 2019
By: Crystal Hsu / Staff reporter
Business leaders yesterday welcomed an Executive Yuan proposal to scrap the stamp tax, saying the
Chinese National Association of Industry and Commerce chairman Lin Por-fong speaks at a news conference yesterday in Taipei.
Photo: Lee Ya-wen, Taipei Times
The Chinese National Association of Industry and Commerce (工商協進會) urged local governments to support the Cabinet’s decision to abolish the tax, which generates about NT$12 billion (US$381.7 million) in annual tax revenue.
“It is an outdated duty the government has promised to address, but has failed to take action until now,” association chairman Lin Por-fong (林伯豐) told a news conference in Taipei.
The business group has pushed for the tax’s abolition for decades and Premier Su Tseng-chang (蘇貞昌) gave a positive feedback during a meeting in May, he said. [FULL STORY]
