Day trading tax cut passes first reading

COST:Daily turnover needs to increase by NT$10 billion to offset the NT$3.75 billion loss in government revenue caused by the cut, Minister of Finance Sheu Yu-jer said

Taipei Times
Date: Mar 24, 2017
By: Ted Chen / Staff reporter

The legislature’s Finance Committee yesterday passed th
e first reading of a bill to cut the transaction tax on day trading by half.
The government aims to boost turnover on the local equity market by attracting short-term funds through cutting the tax from 0.003 percent to 0.0015 percent for one year.

The legislature is scheduled to review the bill’s second and final readings next month, with market watchers saying they see no difficulty in the bill clearing the legislative floor.

The bill could be implemented at the end of next month at the earliest, which would make Taiwan the first market in the world to cut day trading tax, market watchers said.

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