ISSUE ‘BLURRED’:Minister of Finance Chang Sheng-ford said that the economic slowdown is responsible for a slump in the TAIEX and talk about tax blurred the issue
Date: Jul 24, 2015
By: Ted Chen / Staff reporter
Major market players, securities brokers and their major clients said that heavy tax burdens, difficulty turning profits and plans to reallocate funds to markets are the top three reasons for decisions to take flight from the local bourse, a survey released yesterday by the Financial Supervisory Commission (FSC) showed.
As for retail investors, volatility in international markets, increasing misgivings caused by the TAIEX’s continued rise and excessive tax burdens on trading were the main factors holding them back from the market, the survey showed.
It showed that 76 percent of active traders, 94 percent of brokers and their major clients, and 59 percent of retail traders had reduced their positions in the local stock market compared with three years earlier. [FULL STORY]