Cabinet approves proposed extension of tax cut on day trading

Focus Taiwan
Date: 2018/02/01
By: Ku Chuan and Frances Huang 

Taipei, Feb. 1 (CNA) The Cabinet gave approval Thursday for a reduced transaction tax on day trading to be extended for another three years, Cabinet spokesman Hsu Kuo-yung (徐國勇) said.

The decision was taken in a bid to encourage greater investment in the local equity market and help boost turnover, Hsu said.

The proposed tax cut extension would require an amendment to the Securities Transaction Tax Act, and Premier Lai Ching-te (賴清德) is hoping that the Ministry of Finance (MOF) and the Financial Supervisory Commission (FSC) could discuss the issue soon with lawmakers to ensure legislative passage of the amendment, according to Hsu.

On April 28, 2017, the day trading transaction tax was reduced from 0.3 percent to 0.15 percent for a one-year period.    [FULL  STORY]

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