03.09.2001
Opposition to abolition of 2% business tax
Opposing voices have been raised in the Legislative Yuan against the
proposed abolition of the 2% business tax on financial institutions. Some legislators have
proposed that tax proceeds should go toward Resolution Trust Company (RTC) funds to tackle
the financial problems of depository institutions in Taiwan.
The discussion committee proposes to inject NT$120b derived from the
business tax into the RTC. It is hoped legislation on the RTC proposal can be passed by
mid-April and implemented by July this year.
WilliamFong@Primasia.com +886-[0]2-2547-8864 |
