Taiwan MoF plans 2-yr cut in land increment tax ceiling to 40 pct: report

TAIPEI (AFX-ASIA) - The Ministry of Finance is considering a reduction in the maximum land increment tax to 40 pct from the current 60 pct for an effective period of two years, the Economic Daily News reported, without naming a source. The central government is ready to compensate local governments for the 35 bln twd tax revenue shortfall such a measure is expected to incur, it said. The MoF proposal was devised in accordance with a directive by President Chen Shui-bian so as to help revive the sagging property market. Separately, Minister of Finance Yen Ching-chang was quoted as saying the cabinet will call a meeting on the matter next week. 

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