New Taipei becomes last municipality to pass house hoarding tax

New Taipei becomes last municipality to pass house hoarding tax

2023-08-30

New Taipei has joined the crackdown on housing speculation. On Wednesday, it became the last special municipality to pass a so-called house hoarding tax, which comes into effect on Friday.

Voice of Chen Jung-kuei
New Taipei finance director
The amended housing tax will affect people who have two or more non-owner-occupied houses in this city. It will also affect those with unsold residential properties – that is, property developers.

Chen Ping-chen
Real estate analyst
From September, you may be taxed a progressive rate of up to 3.6% of the property’s value. But if you owned the property prior to September, you’ll still be taxed at the original rate.

The first taxes under the new system will be filed in May 2024. People with up to three owner-occupied homes will still be subject to the current tax rate of 1.2%. But for homes not occupied by their owners, the rate will go up to 1.5% for one, 2.4% for two, and 3.6% for three or more residential homes.

新北囤房稅9月上路非自住宅最高稅率3.6%

2023-08-30

六都囤房稅拼圖總算完成！新北市議會三讀通過囤房稅，將在這週五(9/1)公告生效。

[[聲源: 新北市財政局長陳榮貴]]
“囤房稅修法影響的對象，大概就是持有本市非自住房屋，2戶以上的一般持有人，還有持有待銷售住用房屋的起造人，也就是建商。”

[[不動產情報室總監陳炳辰]]
“如果說你今天在9月之後，你可能就會依比例去課徵，最高3.6%的囤房稅，那如果說你是在9月之前，持有的情況上面，應該都還是會維持原本的稅率”

新北囤房稅將在2024年5月開始課徵，未來持有3戶以內自住的，維持現行稅率1.2%，非自住的部分，第一戶1.5%，第二戶2.4%，超過三戶以上課徵3.6%，至於持有3戶以內的自住房屋，則不受影響，維持現行稅率1.2%。

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Medigen partners with WHO to share COVID vaccine tech

COVID-19 may not be in the headlines much these days, but COVID vaccines are still needed around the world. In a deal with the WHO, Taiwan’s Medigen has agreed to license out its COVID vaccine technology. Through the WHO’s COVID-19 Technology Access Pool, or C-TAP, Medigen will share its vaccine, technology and training with people in need worldwide. News of the licensing deal sent Medigen shares soaring on Wednesday.

COVID has ravaged the world for more than three years. Although it’s no longer a global health emergency and border controls have been lifted, the virus is still in circulation. Through a WHO initiative, Taiwan’s Medigen has become the first private manufacturer to license out its COVID vaccine technology.

Paul F. Tokehagen
Medigen international business development director
We’ve entered an agreement to share our technology, our COVID vaccine formulation, the production technology and know-how, including training, with the world.

On its official website, the WHO says Medigen’s vaccine will be licensed to ensure equitable access to a COVID vaccine worldwide. By joining the WHO initiative, Medigen stands to collect licensing fees from buyers.

Leo Lee
Medigen Vaccine Biologics Corp
This kind of protein subunit-based COVID-19 vaccine is very suitable for so-called emerging markets, especially those that don’t have sufficient cold-chain equipment. It can be stored at just 2 to 8 degrees Celsius. The WHO believes that improving access to vaccines rapidly in low and middle income countries, or allowing them to produce them locally, is crucial for global public health pandemic prevention.

Medigen’s COVID vaccine is the first vaccine technology added to the WHO’s COVID-19 Technology Access Pool, C-TAP. Previously, all the technologies included were for medicines, such as Pfizer’s oral antiviral treatment Paxlovid, or Merck and Ridgeback’s Molnupiravir.

Chiang Kuan-yu
Taipei City Hospital
This timing is quite unfortunate. Because most countries have already procured BioNTech or Moderna vaccines. Countries with insufficient vaccine resources such as developing countries could become the prime market for Medigen’s expansion.

The announcement, made by WHO and Medicines Patent Pool, gave a boost to Medigen shares on Wednesday. The stock opened up NT$6.3 and closed limit up, in a surge of about 10%.

2023-08-30

US workers say Taiwan contractors should get out of TSMC’s Arizona job site

Troubles are piling up at TSMC’s Arizona construction site. British newspaper The Guardian reports chaos on the ground, with multiple contractors working in the same areas without central coordination. One local worker pointed to safety issues, saying, "they need to get those Taiwan contractors out of there because they are not used to building in America at all." In response, TSMC said its Taiwan contractors were familiar with the equipment being installed, and would continue to partner with locals on the project.

TSMC is pushing to build two new fabs in the U.S., aiming to start production by 2025. But its setbacks keep making headlines. A week ago it released a rare recruitment video, calling for 2,000 local workers to take managerial roles. U.K.-based news outlet The Guardian reports that it’s chaos in Arizona.

In large red letters, the headline reads: They would not listen to us. The Arizona project is struggling, according to the piece. American workers said that when they disagreed with TSMC management, they were threatened with the loss of their jobs. Workers said there were multiple contractors working in the same sites, “all of them saying different things” amid the absence of coordination.

Nobunaga Chai
Tech analyst
What U.S. labor unions are most concerned about is people taking away their jobs. But in reality, the Taiwanese workers brought here by TSMC are not taking away their jobs, but making their jobs easier. Actually I feel that much of the reporting has been exaggerated.

The analyst says TSMC brought in Taiwanese workers to smooth out the project. But according to an American cited by The Guardian, the project was in great disarray, with workers having to “put stuff up” and “tear it down” five or six times, racking up costs five to six times the original quote. Americans also pointed to safety issues on the large job site, calling for processes to be less rushed. “I think they need to get those Taiwan contractors out of there,” one said. A Taipei-based analyst says that Arizona’s government should step in and mediate.

Arisa Liu
TIER economist
Arizona’s local government really needs to negotiate with the labor unions. After all, TSMC’s facility in Arizona is a flagship project of the U.S. CHIPS Act. There needs to be a comprehensive semiconductor supply chain in the local area. That’s the only way to truly achieve revitalization.

TSMC has responded, saying that it’s common industry practice to have overseas experts support a project. It said the Taiwanese specialists had a deep familiarity with the equipment being installed, and would continue to partner with locals at the job site. In the meantime, questions will continue to hang over TSMC’s 2025 production deadline, as its project sits under global scrutiny.

2023-08-30

Taiwan statistics show record highs for employment in old age

Older people in Taiwan are now more likely to be employed than not. That’s according to the latest government statistics, which show that more than 66% of 45-to-65-year-olds are currently employed. That figure reflects not just those who stay in work, but also those who have retired and then gone back to work. More and more industries are opening their doors to older employees, especially sectors hit by the post-pandemic labor shortage, such as hospitality.

Dressed in a bright yellow T-shirt, 72-year-old Judy is retired, and she’s off to work in this hotpot restaurant.

She greets her colleagues and changes into her work uniform, emerging from the back with a trolley to sort out the sauces.

Judy
Restaurant group employee
My family was shocked that somebody would hire me! I told the company that I’m 72, and they said they are very welcoming of people starting a second career. I hadn’t worked in the restaurant industry before. So why do I do it? Well, I love eating!

Judy’s rich career history includes a stint working for a bank in Vancouver. Then she went to Hong Kong, where she was private secretary to a company chair. At 65, she retired and moved back to Taiwan to enjoy travel and leisure time in nature. But seven years later, she found herself itching to get back to work.

Judy
Restaurant group employee
The pandemic came along, and after three years, I felt like I’d just been at home all the time. I felt very disconnected from society, so I thought “Why not try going out to work again?”

Working front-of-house is complex and demanding, so Judy chose a more behind-the-scenes role, plating up meals. The Directorate General of Budget, Accounting and Statistics says that in March 2023, the proportion of 45-65-year-olds in work surpassed two thirds for the first time. It’s no longer a rarity.

In this fast food store, customers are greeted cordially by 70-year-old Grandma Tsai.

Ten percent of Macdonald’s employees are now over 60. In the last five years, the number of older employees at Muji grew fivefold. Meanwhile, this August, the number of older employees at Wow Prime was twice as many as 12 months ago.

Lin Yu-li
Restaurant group HR development manager
On Aug. 1, we had 406 middle- and old-aged partners working in onsite operations. Compared to the same date last year, it’s more than 100% growth.

Returning to employment in one’s golden years is a growing trend. For many workers, it’s proof that ageist assumptions are meaningless, while for employers, it can be a solution to labor shortages.

2023-08-30

Taipei No.1 in disposable income, Hsinchu in savings

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Publishers urge more government support for e-books

The publishing sector wants more government support for e-books. At a press event with a DPP lawmaker, publishers asked for expanded e-book subsidies to protect Taiwan’s freedom of the press. Currently, the Ministry of Culture subsidizes e-book rentals at two national libraries. It gave out just NT$290,000 last year. Publishers say that’s not enough to save their industry, which contracted by 30% last year.

DPP lawmaker Chiu Chih-wei stands with representatives from publishing houses. Together they urge the government to invest more in e-books to support Taiwan’s culture.

Chiu Chih-wei
DPP lawmaker
In 2021, the government only distributed NT$400,000 in e-book subsidies. In 2022, it gave only NT$290,000. For the publishing industry, this provides just a drop in the bucket.

The Ministry of Culture recently announced a budget of NT$100 million to subsidize e-book loans at public libraries. Chiu says that similar programs have only had limited effect in the past. As the subsidies only cover loans at two national libraries, they’ve brought little benefit to publishers.

Chiu Chih-wei
DPP lawmaker
If the policy could be expanded to the six special municipalities, the subsidies could benefit more publishers and more writers.

Chiu said e-book subsidies should be extended to more libraries. Publishers say that since COVID, Taiwan’s publishing industry has seen a significant decline, with business contracting by 30% in 2022.

Chao Cheng-ming
Taipei publishers association
Letting this decline continue is not the way to go. I think the publishing industry is a beautiful part of Taiwan that everyone should strive for. We should try to preserve this diverse culture of freedom of speech and freedom of the press in the publishing industry in our corner of the world.

Chen Chun-sheng
Taiwan publishers association
This year, there is still one last round of subsidies to be handed out. I strongly advise the government to continue implementing this policy.

Amid a decline in the industry, publishers urge the government to utilize e-book subsidies to benefit industry players and readers in Taiwan.

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MND holds first shooting skills camp for reservists

The defense ministry recently held its first shooting skills camp for reservists. The camp was held in four stages, in northern, central, southern and eastern Taiwan. More than 100 volunteers paid out of pocket to take part in the camp. They were given intensive instruction to improve their shooting skills that they might or might not have learned during military service. The camp was only open to reservists who were in military service less than 12 years ago. One participant says he hopes that future camps will be opened up to more potential students.

In August, the Ministry of National Defense held this four-stage “reserve shooting camp,” to strengthen the reserve forces’ capacities.

Participants follow orders from an officer. When they start to remember how to handle a weapon, they can start shooting.

Any reservist who completed their military service within the last 12 years is eligible to apply for the camp. Here they’re firing live bullets from T91 assault rifles, in standing, kneeling and prone positions. The targets are anything from 25 to 300 meters away.

Wang Shen-yuan
Armed forces reserve camp participant
We used obstacle boards to train shooting in different positions. In the past we always trained in prone position. So this helped us gain greater combat skills. A full day with a packed curriculum let us revise really thoroughly. Some of the participants had done four months’ military service, others one year, and some had even done voluntary service. You could see how excited everyone was, and maybe people who are willing to volunteer to sign up are interested in shooting, and of course have a certain sense of crisis.

Volunteer Wang Shen-yuan took part in three of the four stages of the camp, which, he says, had a positive, enthusiastic atmosphere. He hopes the camps can expand more in the future.

Wang Shen-yuan
Armed forces reserve camp participant
I think they can open them up more. I hope they can let in all reserves who have not yet stepped down. Of course, some people have stepped down, but they still want to protect home and country.

Hsu Chih-hsiang
Institute for National Defense and Security Research
Training capabilities are quite limited, and the capacity is very limited. It could be that the land that is freed up for the armed forces might also be wanted by the local government or private business, so training camps could start to interfere with people’s lives, and gradually many conflicts could appear. All those things would need resolution.

This is the first reserve shooting camp held by the MND, and in total between 100 and 200 participants paid individually for the chance to take part.

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