MOF an­nounces typhoon tax re­lief

The China Post - - TAIWAN BUSINESS - BY ENRU LIN

The Min­istry of Fi­nance ( MOF,

) yesterday an­nounced tax re­lief mea­sures avail­able to taxpayers who sus­tained losses from Typhoon Soude­lor, which made land­fall on Aug. 8.

Farm­ers with stricken crops will be com­pen­sated through state emer­gency as­sis­tance funds, and the crops will be ren­dered ex­empt from in­come tax, the Fi­nance Min­istry stated in a press re­lease.

Taxpayers with storm-dam­aged cars or scoot­ers that need re­pairs may re­ceive a re­fund of their ve­hi­cle li­cense tax ( ) pay­ment for the pe­riod of time that the ve­hi­cle is out of com­mis­sion, the min­istry said.

Ac­cord­ing to cur­rent tax rates, the re­fund for a small pas­sen­ger car with a cylin­der dis­place­ment of be­tween 1,801 and 2,400 cu­bic cen­time­ters would be NT$11,230 per year, or NT$ 935.80 each month. For a scooter with cylin­der dis­place­ment be­tween 501 and 600 cu­bic cen­time­ters, sav­ings would amount to NT$2,160 a year or NT$180 each month.

To be el­i­gi­ble, a tax­payer should re­port the con­di­tion of the ve­hi­cle to the lo­cal mo­tor ve­hi­cles of­fice within a month af­ter the typhoon made land­fall.

Other Tax Ex­emp­tions Avail­able

Taxpayers, whose prop­erty was dam­aged and busi­nesses that were un­able to open for busi­ness due to flood­ing, are also el­i­gi­ble for tax re­lief, the Fi­nance Min­istry said.

Within 30 days of the dis­as­ter, taxpayers can ap­ply for par­tial ex­emp­tion from their in­come tax ( ), land value tax (

) and other re­lief to off­set storm­re­lated losses.

De­duc­tions from the hous­ing tax ( ) are avail­able for prop­er­ties that sus­tained over 30-per­cent dam­age from Typhoon Soude­lor, ac­cord­ing to an ex­emp­tion plan re­leased yesterday.

Busi­nesses can claim de­duc­tions from the busi­ness tax ( ), to­bacco and al­co­hol tax ( ) and amuse­ment tax ( ).

In ac­cor­dance with gov­ern­ment pro­vi­sions, ap­pli­cants must sub­mit doc­u­men­ta­tion of storm-re­lated losses that must be con­firmed by the state.

The Fi­nance Min­istry said that it has sent min­istry per­son­nel to the ar­eas worst-hit by the storm to help taxpayers ap­ply for tax ex­emp­tions.

For more in­for­ma­tion, call the Na­tional Tax­a­tion Bureau ( ) at 0800-000-321 or reach a lo­cal tax of­fice through the toll-free ser­vice hot­line 0800-086-969.

Also yesterday, the min­istry said it was work­ing with Land Bank ( ) to pro­vide low-in­ter­est loans to busi­nesses and home­own­ers for dis­as­ter re­con­struc­tion.

CNA

A farmer ex­am­ines dam­age to his banana crop in Li­u­jiao Town­ship ( ), Chi­ayi County, yesterday. For months, farm­ers in this ru­ral town­ship had an­tic­i­pated a healthy profit due to an in­crease in the whole­sale cost of bananas. This farmer pho­tographed by the Cen­tral News Agency saw a year’s la­bor wiped out in lit­tle over two days by Typhoon Soude­lor, just weeks be­fore harvest.

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