TAIPEI (TVBS News) — Taiwan's Minister of Economic Affairs Wang Mei-hua promised on Monday (Nov. 6) to address a tax cut for young workers in continued negotiation with the Ministry of Finance.
At the Legislative Yuan, Kuomintang (KMT) Legislator Yang Chiung-ying highlighted low salary concerns, pointing out that the median wage in Taiwan sits at a meager NT＄42,000, the weakest among the Four Asian Tigers, which includes South Korea, Singapore, and Hong Kong.
To alleviate this issue, Yang suggested increasing the age for tax incentives for small and medium-sized enterprises (SMEs) hiring young employees from under 24 to under 30. The legislator argued that this policy change could substantially help young people struggling with low wages.
In response to this suggestion, Wang said the government would discuss the proposal with the Ministry of Finance while emphasizing the government's efforts in reducing taxes to help tackle the issue of low wages for young workers.
