Reforms to add NT$64.1 bil. to gov't revenue: Jiang
The China Post news staff
May 23, 2014, 12:05 am TWN
TAIPEI, Taiwan -- Premier Jiang Yi-huah (江宜樺) said yesterday that the Ministry of Finance's fiscal reform plan will increase government revenue by NT$64.1 billion per year and benefit 6.4 million people across the nation.
After listening to a report by the Ministry of Finance, Jiang pointed out that the Income Tax Act (所得稅法) and Business Tax Act (營業稅法) amendments proposed as part of the reform plan have cleared the Legislative Yuan.
The government estimates that it will receive an additional NT$64.1 billion per year once the amendments take effect, the premier said, adding that the increases in the standard deduction, special deduction of income from salaries/wages and special deduction for the disabled or handicapped as part of tax payments will benefit 6.4 million people.
According to the premier, the additional revenue will further stabilize government finance.
People have expressed concerned over the usage of the additional money, and the central government's budget for 2015 is currently being drafted, the premier said, asking all ministries and councils to look into their expenses and make sure that money is being spent wisely.