Taiwan's government is set to revoke the income tax exemptions currently in place for the country's teachers and military servicemen.
The decision to reverse the measure - which has been in place for several decades to offset the low wages earned by teachers and soldiers - has been made in a bid to boost government revenues.
Commencing in January 2010, the move will affect up to 350,000 military professionals and individuals within both the primary and elementary teaching sectors. The government estimates that the tax reversal could net them an extra TWD16bn (USD 725m) by 2011.
The government has defended its decision to abolish the tax exemptions - which still need official approval from the Legislative Yuan - stating that improvements to the livelihoods of teachers and soldiers in recent years puts them on an even footing with other professionals required to pay tax.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment