Taiwan Mulling Reduction In Futures Transaction Tax
It emerged on Wednesday that a cut in the tax imposed on futures trades has
been approved by the Taiwanese Parliament's finance committee. Currently, the tax is imposed on futures transactions at between 0.01% and
0.06%, but under the new proposals, designed to boost foreign investment in
Taiwan's markets, the levy could be cut to 0.00125%. The planned tax cut must receive a second and third reading, and then needs
to be approved by the Ministry of Finance, reports in the national media have
revealed. However, the proposal is not likely to receive an easy ride, as cutting the
futures transactions tax to such a degree is expected to deprive the Taiwanese
government of a significant chunk of revenue. .
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