Taiwan Fin Min: Tax Rate Hikes Unlikely Next Year
TAIPEI -(Dow Jones)- Taiwan is unlikely to raise tax rates next year before
any "concrete" economic recovery, Minister of Finance Lee Sush-der said Friday.
"A GDP growth of 3%-4% next year could not be described as concrete in light
of the low base this year," Lee added.
Tax rate hikes would also need to be approved by the legislature, making it
unlikely that taxes will be raised next year, he said told reporters at a press
conference.
Besides taking into account GDP growth, the ministry will also consider other
factors like inflation and wages before deciding whether or not to raise taxes.
The tax reform committee suggested earlier in October the introduction of
energy and green-house emission taxes and taxes on capital gains on stock
investments.
The finance ministry also has no immediate plans to issue government debt
overseas as "the country has ample funds," he said.
-By Crystal Hsu and Charmian Kok, Dow Jones Newswires; 88622 502-2557;
charmian.kok@dowjones.com
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11-20-090906ET
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