REVIEW REQUIRED:The ministry outlined plans for dividend income taxes, where investors could choose a 26% flat rate tax after a deduction or a progressive scheme
Date: Sep 02, 2017
By: Crystal Hsu / Staff reporter
The Ministry of Finance yesterday proposed raising corporate income tax rates and
cutting personal income tax rates in a bid to make the nation’s tax burdens more equitably distributed without losing global competitiveness.
Minister of Finance Sheu Yu-jer (許虞哲) unveiled the reform package, which seeks to address concerns that the tax system disadvantages salaried people, small and medium-sized enterprises and skilled workers.
“We suggest increasing corporate income tax rates from 17 percent to 20 percent to support cuts on corporations’ retained earnings and higher tax deductions for middle and low-income earners,” Sheu told a news conference. [FULL STORY]