Taiwan Mulls Tax Cut on Commodities to Control Inflation: Times

Nov. 25, 2021, 12:47 AM

Cabinet’s task force in charge of pricing is considering tax cut on commodities to prevent inflation from growing over 2%, Taipei-based Commercial Times reports, citing National Development Council Minister Kung Ming-hsin.

  • Government weighs halving or suspending customs tariff on wheat, reducing business tax on soybean, corn, wheat and barley; cabinet may also adjust commodity tax on cement, gasoline and liquefied petroleum gas by up to 50%, the report says, citing unidentified govt official familiar with the matter
    • The tax adjustment may last two to six months: report

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