Taiwan Legislator Called For A 20% Hot Money Tax On Foreign Capital Speculation Outside The Island.

2010/11/16 10:28:00 57

For foreign exchange Islands

Capital levy on hot money tax

On the 15 day, the financial committee of the Legislative Yuan in Taiwan was left behind.

Including the Kuomintang "legislator" Lai Shi Bao and others 15 days advocated, according to the island "income tax law" levy 20% of the tax.

Chen Yuzhang, chief executive of the financial supervision and Administration Commission of the Executive Yuan, went to the financial committee of the Legislative Yuan on 15 March to report on the budget of the financial controller of the HKMA in 2010 and 2011.

Sun Daqian, Lin Defu and Lai Shi Bao, including the Kuomintang "legislators", are concerned about the issue of "hot money tax" on capital speculation outside the island.

In response to Sun Daqian's question whether he advocated the Levy of hot money tax on foreign exchange and the influence of hot money taxes on Taipei stock market, Chen Yuzhang said that the competent authority for levying hot money tax is "the Ministry of finance", and whether it will have a negative impact on the stock market after taxation is uncertain, but the Levy of hot money tax is one of the factors that affect the stock market.

Lai Shibao said that foreign capital can invest in Taiwan stock market, but foreign exchange is not allowed; in other words, capital outside Taiwan comes to Taiwan.

Stock speculation

Sure,

Foreign exchange speculation

May not.

Lai Shibao also appealed to us to levy 20% tax on the foreign exchange funds which were not imported according to the regulations, according to the "other income" of 8 of the 66 income tax law.

In addition, Chen Yuzhang said that the "tax law" is interpreted by the Ministry of Finance and will respond to the "Ministry of finance" according to the "legislator" proposal.