Focus Taiwan
Date: 03/24/2020
By: Ku Chuan, Ye Su-ping and Evelyn Kao

Taipei, March 24 (CNA) The government has been rolling out a slew of measures to counter the economic impact of the COVID-19 coronavirus pandemic, including providing compensation, subsidies and tax breaks for businesses, individuals and organizations affected by the disease.

As part of the relief measures, government banks will cut interest rates on loans for self-use homes valued at NT$10 million or less by 0.5 percentage points for six months, Minister without Portfolio Kung Ming-hsin (龔明鑫) said Tuesday.

Furthermore, individual income taxpayers will be allowed to apply to postpone their deadlines for income tax payments by up to one year or paying by installment for up to three years, according to Kung.

For small businesses that do not need to issue invoices but which are severely affected by COVID-19, the government will lower their corporate-tax rates to as low as zero, he added.
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