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Executive Yuan passes tax collection proposal

Executive Yuan passes tax collection proposal

Taipei, May 27 (CNA) The Executive Yuan passed a draft bill Thursday that would nullify a 2007 amendment to the Tax Collection Act that limits the collecting of tax debt to a five-year "golden collection period." Under the controversial 2007 amendment, overdue taxes totaling NT$175.25 billion (US$5.45 billion) in 115,115 tax evasion cases are set to be written off on March 4, 2012, when a five-year grace period for the Ministry of Finance to collect from defaulters expires.
The draft bill passed by the Executive Yuan Thursday extends the collection period to 10 years.
If approved by the legislature, tax debtors' liabilities will not be canceled for another seven years, ministry officials said.
Premier Wu Den-yih exhorted ministry officials to fully communicate with legislators on the draft bill so that it can be made into law as soon as possible.
(By Ming-chung Lee and Deborah Kuo)




Updated : 2020-12-03 12:47 GMT+08:00