Date: Sep 18, 2015
By: Crystal Hsu / Staff reporter
Minister of Finance Chang Sheng-ford (張盛和) yesterday said he would respect a
legislative decision to amend the stock transaction and capital gains taxes, as the rapid global slowdown warrants economically friendly policies.
The legislature today is expected to approve proposals to cut the stock transaction tax from 0.3 percent to 0.25 percent and set the capital gains tax at 0.05 percent.
The planned change, the fourth of its kind in three years, would leave tax burdens intact for most investors, but would spare active traders a 0.1 percent levy on share transactions totaling NT$1 billion (US$30.62 million) within a year.
“The proposed revision has turned from taxation into a political issue,” Chang told reporters. [FULL STORY]