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KMT to push cross-strait taxation pact in new legislative session

KMT to push cross-strait taxation pact in new legislative session

Taipei, Sept. 14 (CNA) The Kuomintang (KMT) government will be prioritizing passage of a cross-strait agreement on double taxation avoidance as well as bills on the budget, government restructuring and an all-volunteer military in the fall legislative session that opens Tuesday, Premier Mao Chi-kuo (???) said Monday. Mao said the Cabinet will also push a special budget bill to finance a river basin management plan, an amendment to encourage small and medium-sized enterprises to raise employee pay and a bill promoting industrial innovation. He listed the government's priorities during a forum held by the KMT's Policy Committee to discuss the Legislature's operations and its coordination with the government before its new session begins on Tuesday. President Ma Ying-jeou (???), Legislative Speaker Wang Jin-pyng (???), and KMT Chairman Eric Chu (???) were all present at the forum. Among the top priorities is the ratification of an agreement between Taiwan and China that will protect Taiwanese businesses with operations in China from paying tax on the same income in the two countries. The double taxation avoidance agreement was signed last month by Lin Join-sane (???), chairman of Taiwan's Straits Exchange Foundation, and Chen Deming (???), president of China's Association for Relations Across the Taiwan Straits, on behalf of their respective governments. Ministry of Finance officials said last month that the pact will reduce the tax burden of Taiwanese companies and also offer an incentive for foreign companies to set up operations in Taiwan. Legislative Speaker Wang touched on the potential importance of the upcoming session on the KMT's chances in the presidential and legislative elections to be held in January 2016. Unable to shake the low popularity of the incumbent government, the KMT is not expected to maintain its majority in the 113-seat Legislative Yuan in the elections and its presidential candidate is lagging far behind in the polls. But Wang said coordinated efforts by the Cabinet, the Legislature and the KMT to push the bills through would be very helpful to the party's chances in 2016. (By Tseng Ying-yu. Claudia Liu and Evelyn Kao)


Updated : 2021-09-25 17:43 GMT+08:00