Taiwan Considers Reducing Luxury Tax On Yachts
by Mary Swire, Tax-News.com, Hong Kong
04 June 2014
Following a ministerial meeting to discuss the development of Taiwan's yacht industry, Executive Yuan spokesperson Sun Lih-chyun has indicated that a luxury tax cut for yachts is under consideration.
The Government feels that Taiwan is very well-positioned to further develop its yacht industry, which is currently ranked fifth in the world. This would further boost tourism numbers, it said.
The ministerial meeting decided that there was room for discussion on whether to review the present 10 percent luxury tax on yachts priced at over TWD3m (USD99,800) to improve the territory's attractiveness. Premier Jiang Yi-huah has asked the Minister without Portfolio, Yang Chiu-hsing, to formulate suggestions concerning the supply and demand sides of the industry.
The Ministry of Finance and other interested government agencies are now said to be reviewing the case for repealing the levy, or perhaps reducing it. Sun predicted that it would be "relaxed" in due course.
To see today's news, click here.
Tax-News Reviews

A review and forecast of Cyprus's international business, legal and investment climate.

A review and forecast of Malta's international business, legal and investment climate.

A review and forecast of Jersey's international business, legal and investment climate.

A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- North America Presses On With Tax Reforms »
- Digital Take Center Stage... »
- Budgets Bypass Manifestos, Manifestly »
- Reforms Continue Apace... »
- LLC vs Corporation - All You Need to Know »
- A Mixed Bag of Swiss Rolls and VAT Selection Packs... »
- A Flurry Of Activity »
- Tinkering Behind The Scenes »
- Why choose Hong Kong for starting an Online Business? »
- Hong Kong International Focus »