Manufacturers’ tax cut bill clears first hurdle

The five year tax exemption, if it clears the Legislative Yuan, will apply to new investments between July 1 of this year through Dec. 31 of next year, the IDB said.

The amendment includes a stipulation that the amount of tax exemptions over five years cannot surpass the amount of the investment, the bureau said.

The IDB said it estimates that the amendment will lead to NT$500 billion in new investments, providing a boost to the domestic economy and helping to create new job opportunities.

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