TAIPEI (TVBS News) — The Executive Yuan (行政院) decided Monday (Dec. 17) to extend tax reduction measures for key raw materials until the end of March next year. This move aims to alleviate businesses' operational burdens and stabilize consumer prices amid fluctuating weather and increased demand during the Lunar New Year.
Vice Premier Cheng Li-chiun (鄭麗君) highlighted the decision to launch the 14th wave of tax reductions. She stated that considering the recent unstable weather affecting fruit and vegetable prices and the rise in demand for consumption for the Lunar New Year, the Executive Yuan decided to extend the measures until the end of March next year.
The measures include waiving business taxes on imported soybeans, wheat, and corn and halving tariffs on butter, baking powder, and frozen beef. Cheng instructed the Ministry of Economic Affairs (經濟部) and the Ministry of Agriculture (農業部) to work with businesses to adjust product prices, ensuring the tax benefits reach consumers.
She also urged relevant departments to monitor domestic and international trends. If international raw material prices ease in the first quarter, the policy may end after March. Heavy rains and typhoons in September reduced vegetable supply in Taiwan's lowlands, prompting the Agriculture and Food Agency (農糧署) to release stored cabbage at 1,572 distribution points nationwide.
