Under the amendment, the tax on rice cooking wine will be reduced from NT$22 (US$0.72) per liter to NT$9 per liter.

The cooking wine is considered to be an essential ingredient in Chinese cuisine.

The legislature also passed a complementary resolution requiring the Ministry of Finance and the Taiwan Tobacco and Liquor Corp. to ensure that the final price of the wine reflect the tax reduction.

Martin Tsai, chairman of the Taiwan Tobacco and Liquor Corp., said recently that if the amendment were passed, the retail price of the company’s rice cooking wine would drop.

If the company adheres to its promise following the amendment’s passage, the price of 20-proof rice cooking wine will drop from NT$48 per bottle to NT$40 per bottle, while that of a 40-proof bottle of rice cooking wine will decrease from NT$64 to NT$56, and that of an 80-proof bottle from NT$90 to NT$82.

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