Tax cuts to take effect May 2023 amid rising inflation

Tax cuts to take effect May 2023 amid rising inflation

2022-12-20

And with the year soon coming to an end, many of us are starting to plan out our budgets for 2023. But remember that a tax cut will come into effect in May, with a rise for tax exemption and deduction thresholds. The measure is hoped to offer reprieve amid rising inflation and consumer prices. Let’s hear from people on the street.

Member of public
I think people will definitely benefit from that. I live by myself, and my family doesn’t give me an allowance. The tax cuts would definitely be beneficial for taxpayers.

Chou Chih-cheng
Accountant
The thing is, if we look at the price consumer index, prices for the average person have gone up by 10% or 20%. The exemption threshold is going up by 3% or 4%, so it’s not a lot for the average person.

The personal tax exemption, which currently stands at NT$88,000, will go up by NT$4,000 to NT$92,000. The standard deduction for single filers will also go up by NT$4,000 to NT$124,000. Meanwhile the special deduction for salary earners and people with disabilities will be raised by NT$7,000 to NT$207,000.

明年5月報稅大減稅因應物價上漲挺過通膨

2022-12-20

高通膨、國內物價指數高於3%，財政部長蘇建榮說，因應物價上漲，綜合所得稅的免稅扣除額會從8.8萬提高到9.2萬，明年5月報稅適用。

[[民眾]]
“會滿有感覺的，因為我自己住，家裡沒有給我開銷，所以如果有減稅的話，對納稅人來說應該會是滿大幫助”

[[會計師周志誠]]
“但是依物價指數上漲幅度高來看，一般民眾感覺物價上漲10%、20%，這次調整3%、4%，對民眾來講可能感覺非常微薄”

因應國內物價指數高於3%，明年5月，綜所稅免稅扣除額從原來的8.8萬提高到9.2萬；標準扣除額從12萬提高到12.4萬；薪資特別扣除額從20萬提高到20.7萬元。財政部減稅利多，要讓全民喘口氣，度過難熬的通膨。

Related News

European Parliament representative praises Taiwan’s China response, Ukraine support

Despite the ongoing fighting in Ukraine, the country’s defense ministry released video thanking supporters, including Taiwan. Meanwhile, a trade delegation from the European Parliament also took the opportunity to thank Taiwan for standing with the EU in its responses to Russia’s invasion of Ukraine. The delegation also praised Taiwan for being measured and responsible in its response to ongoing Chinese aggression.

Ukraine’s defense ministry posted a video to Twitter, thanking the country’s friends in the international community for their support. The ministry said that over 20,000 volunteer soldiers from 52 countries had joined the Ukrainian defense effort, and displayed the flags of the volunteers’ countries. Among them, was Taiwan’s national flag.

The video also thanked the thousands of people and organizations who donated supplies to Ukraine, and the numerous celebrities and politicians who have spoken up on behalf of the country. The video had a message for those who have demonstrated on behalf of Ukraine too, telling them, “To all those who visited us during our darkest hour, you are all heroes, and we will win this fight together.”
A visiting delegation from the European Parliament on Tuesday also thanked Taiwan for its support for Ukraine, and praised Taiwan for its response to ongoing threats from China.

Anna-Michelle Asimakopoulou
European Parliament trade committee
In this spirit let me express our gratitude, for the fact that you are on the right side of history, in supporting our response to the unconscionable war of Putin in Ukraine. Let me also congratulate you on your measured and responsible reaction to unprovoked and increasing aggression and provocation from China.

Tsai Ing-wen
President
This is the first delegation to Taiwan of officials from the European Parliament’s Committee on International Trade. There is a deep significance to the participation of each member of the delegation to the development of our bilateral relations and economic exchange. In the face of ongoing global expansion of authoritarianism, Taiwan is capable and willing to strengthen its cooperation with partners on the defense of democracy.

The European Parliament has sent three delegations to Taiwan since last year. President Tsai says the visits demonstrate the importance that the EU member states place on their relationships with Taiwan. She said she hopes the two sides can sign a bilateral investment agreement as soon as possible, as well as strengthen cooperation in different areas.

2022-12-20

Taipei holds awards ceremony for city officials

Taipei officials resigned en masse on Tuesday morning, ahead of the inauguration of the new mayor for the capital, the KMT’s Chiang Wan-an. To thank the officials for their service, Taipei Mayor Ko Wen-je presided over an awards ceremony on Tuesday. The occasion offered Ko a last chance to chat with his administrative team while posing for photos with the awards.

Taipei’s top officials have resigned en masse ahead of the change in administration. To thank them for their service, Taipei Mayor Ko Wen-je presented them with certificates and medals of achievement. The ceremony also turned to be a chance for Ko to say some last words to his team.

At each certificate handed, Ko asked the recipient what their next steps would be. He was also curious to learn why not all officials were receiving a medal.

During one of the muttered exchanges, the head of the Department of Information and Tourism explained that he wasn’t getting a medal because he had previously been given a demerit, prompting Ko to burst out laughing. During his final address, Ko thanked all in the team for leading the city with him over the past eight years.

Ko Wen-je
Taipei mayor
Together with the deputy mayors, the heads of the different departments today resigned en masse, before the start of the new municipal administration takes over on Dec. 25. I would like to thank all our colleagues for all your contributions, and the citizens of Taipei for their support. Thank you all a million.

Ko also added that he hoped the Chiang administration would take over smoothly. The outgoing mayor was also asked about how he felt about the fact that a total of 113 officials had left their posts over the course of his mandate.

Ko Wen-je
Taipei mayor
Some officials retired, others moved to work in the central government. And some stayed on and got moved to other positions. It’s a number that I think is OK. The Taipei Dome project documents have already been sent to the central government. They’ve been under review for a year and eight months already. So once they clear the review in the central government, the steps after that are quite easy. It would just be drafting a plan for a soft opening.

The Taipei mayor maintains that the central government is to blame for the multiple problems that have plagued the Taipei Dome project during his mandate. To wrap up, the mayor posed for a group photo with the municipal team, marking the end of an era for Taipei.

2022-12-20

Defense ministry offers details on updated voluntary recruit training program

The Ministry of National Defense on Tuesday offered more details on its updated training regime for voluntary recruits, which will take effect next year. The duration of training will be extended to 380 hours over eight weeks, with more diverse curriculum featuring sports science and casualty care among others. The new program also puts extra emphasis on marksmanship, requiring recruits to shoot a total of 160 rounds of ammunition before the end of training.

Soldiers are hard at training in case their skills are required in a Chinese invasion. In recent years, criticism has mounted over the training regime for Taiwan’s voluntary recruits, with some people saying it is too conservative and traditional, resulting in soldiers who are not able to respond to modern-day threats. The Ministry of National Defense has announced it is changing its training curriculum starting next year.

Liu Shen-mo
Ministry of National Defense
The military has considered the need for combat training and taken into account the training regimes of other advanced countries. So the main focus is actual combat. Originally, the duration of training was 230 hours over five weeks. That will be increased to 380 hours over eight weeks. There will be four types of courses. Regular classes, physical combat skills, weapons training and combat training.

The courses will feature an array of subjects including stress management on the battlefield, sports science, casualty care, survival skills, tactical marching and jungle training. Originally, the program only required trainees to shoot 86 rounds of ammunition in the prone position. Now, they’ll be firing 160 rounds in standing, kneeling and prone positions and while marching. There will also be specialized courses about operating weapons and equipment depending on the needs at the different military units that the recruits are assigned to.

Liu Shen-mo
Ministry of National Defense
The comprehensive training course includes specialized training, training at military bases, joint drills and combat planning exercise to strengthen the combat abilities of soldiers and officers in performing combat missions.

The ministry had previously said it would announce by year’s end its definite plans to extend the duration of conscription from four months to one year. Premier Su Tseng-chang has said the plan is in its final stages for deliberation.

Sun Li-fang
Defense ministry spokesperson
The extension of conscription is a matter that covers a very big range of issues. It involves the international strategic situation and national security considerations, as well as the need to boost our combat readiness, and the rights of conscripts, including educational and economic factors. The ministry is currently in the final stages of coordination and planning and finalizing the details. I believe a public announcement will be made right when the plans are finalized.

The ministry stressed that the plans for longer conscription would be announced as soon as possible.

2022-12-20

Candidates in Taipei legislative by-election draw lots to get ballot numbers

2022-12-20

Widow learns to bake, supports family with thriving bakery business

Now we meet a widow who started a new chapter of her life as a baker. More than a decade ago, Tien Chin-yu’s life changed forever, when her husband was killed in a traffic accident. Tien was plunged into a new role as breadwinner, with no clear way to keep the family afloat. But with support from a victims’ support group, she learned to bake bread. Now she has a thriving business in Hsinchu. She wants her story to bring hope to folk facing similar dark days.

Tien adds flour, yeast, a sourdough starter, and soy milk into the blender.

The dough sits in a warm place to rise. Then it’s placed in individual molds and goes into the oven. Before long, the golden loaves emerge.

Sweet milk spread and savory pepper with cheese are some of the flavors on offer. All the delicious recipes are expertly baked by Tien. You wouldn’t guess that she only turned to baking out of necessity. After her husband was killed in a traffic accident, she had to find a way to support her family.

Tien Chin-yu
Baker
I didn’t know what sadness was, then. I just knew I had to arrange the funeral, and when that was sorted, the most important thing was the future. It was really – we had no money, and the text messages about the mortgage just kept coming.

Beset by debt, Tien also had two small children to care for. But she managed to survive, taking up every chance to earn money, making pickled cabbage and crunchy plums, and sewing clothes. Then the Crime Victims’ Protection Association reached out its support, and taught her how to bake bread.

Tien Chin-yu
Baker
Back then, every time I made something, the association people said it was awful and tasted so bad. I wondered how come other people could make things so delicious, and I did it so badly. So I wanted to try again and again.

This whiteboard in Tien’s kitchen now has on it all the orders for the day, written up by her son and daughter-in-law, as well as the days of the week when her stall is open. As you can see, it’s a busy schedule. Fate dealt Tien a dreadful hand, but she didn’t let it be the end of the story. Now she hopes her resilience can inspire others facing a similar tragedy.

2022-12-20

TRA union calls for strike during the Lunar New Year

It’s one month to go until the Lunar New Year, when people across Taiwan return home to see their families. This year, those plans may be disrupted if the Taiwan Railway Labor Union goes ahead with a proposed strike. The union said it is dissatisfied with not being consulted on several points related to the corporatization of the railway company. Though the Taiwan Railways Administration says it is has maintained communication with the union, the two parties have yet to sit down for talks. The union says it will meet next week to discuss whether to strike.

With the Lunar New Year long holiday just around the corner, the Taiwan Railway Labor Union is again mulling a holiday strike.

Member of the public
Of course this will cause difficulties. The management and labor should properly communicate and work this out.

Some members of the public have expressed concerns that getting home for the holiday may be difficult. The union says it is dissatisfied with some of the procedures in the planned corporatization of the TRA. Specifically, union members said they were not consulted in regard to proposed vehicle-maintenance regulations under the corporate structure.

Wu Chang-chih
Taiwan Railway Labor Union
For such a large transportation network, we can’t allow trains to have any problems at all. In the interest of railway safety, let’s first stop the trains completely for the Lunar New Year, so we can have a good talk. After that we can think about holiday transportation.

In response, transport minister Wang Kwo-tsai visited the union to see if there was room to maneuver on the potential strike.

Chu Lai-shun
Taiwan Railways Administration
We are coordinating with the union, always coordinating.

Wu Chang-chih
Taiwan Railway Labor Union
This problem of poor communication runs counter to what we worked out on May 18. This is a problem of bad faith on your part, so don’t accuse us of not showing good will.

With the two sides still not at the negotiating table, passengers may find themselves without trains to ride home before the Lunar New Year. The union has said it will hold a meeting on Dec. 27 to discuss strike action. The public may need to wait one more week to find out whether their travel plans can go ahead.

2022-12-20

Spotlight on Ukrainian war doctor Oleksandr Sokolenko

Today in our spotlight story, we meet Oleksandr Sokolenko, who served as a doctor in the Ukrainian war. Sokolenko was invited by the Formosa Republic Association to give speeches at hospitals around Taiwan. He also went to Hualien to thank and pay his condolences to the family of Tseng Sheng-kuang, a 25-year-old Taiwanese man who went to Ukraine as a volunteer soldier and lost his life. In an exclusive interview with FTV reporter Stephany Yang, Sokolenko shared his experience as a frontline war doctor. He also praised Taiwan’s medical treatment and voiced his hopes to cooperate with Taiwan to help even more people in need.

Sharing photos of the time he was serving on the front line, this is Ukrainian doctor Oleksandr Sokolenko. He was originally a general surgeon, but when he saw his hometown being invaded, he decided to don a military uniform and become a frontline volunteer doctor. For six months, he was on call 24 hours a day to save lives.

Oleksandr Sokolenko
Ukrainian doctor
Our heroes are still fighting in very bad conditions. Our people are fighting against a very strong enemy. We are fighting without lights, and without water in the cold weather. Our doctors work 24/7 and work really hard. We do a lot of work. Different people joined to resist. Damage control surgery. I can’t share everything but I did medical care.

The Formosa Republic Association invited Sokolenko to visit Taiwan and share his experiences on the battlefield as a frontline war doctor. At one stop, he visited National Taiwan University Hospital to learn about wound healing and reconstruction.

During his stay, Sokolenko also had the opportunity to try various Taiwanese delicacies.

Oleksandr Sokolenko
Ukrainian doctor
Also, I hope to learn from Chang Gung Memorial Hospital because Taiwan, you are on the top of the world in reconstruction. You are a great country with great doctors, and great people for sure, and of course great food.

He also made a trip to Hualien to visit the family of Tseng Sheng-kuang, a Taiwanese man who died in November volunteering as a soldier in Ukraine. Sokolenko was so moved that he knelt down, thanking Tseng for his sacrifice for Ukraine.

Oleksandr Sokolenko
Ukrainian doctor
For us, he stayed a Ukrainian. We will remember him as all foreign volunteer who came to help us. And for sure, from now on, his family is our family too. We also respond to them. That’s why I decided to visit his parents. I just tried to take a bit of their pain and share it with me because I can’t imagine their pain, but I tried to do my best to support them a bit.

Sokolenko said he hopes to build stronger ties with Taiwan, especially in cooperation with NGOs. In addition, he also said he would do his best to help Taiwan because the two countries share common values.

Oleksandr Sokolenko
Ukrainian doctor
I believe that we have the same values. Taiwanese and Ukrainians have the same values. Both of us choose democracy. I think we have a pretty similar situation. I have fallen in love with your country. You have really warm people and a really warm nation. I hope and pray that you will never get that experience that we get. But, I will try to help in any way I can to help you. I will try my best to help your people.

Praising Taiwan’s kind people and advanced medical care, Sokolenko says he hopes to invite more Ukrainian doctors to come to Taiwan.

2022-12-20

Bird experts celebrate 1,500 cormorants overwintering in greater Taipei

2022-12-20