TAIPEI (Taiwan News) — The Legislative Yuan approved the required legislation Tuesday (Feb. 21) to pay a NT$6,000 ($197) surplus tax rebate, with the money expected to be distributed in April.
Taiwan reported NT$450 billion extra in tax revenue last year, with NT$70 billion to be passed on to local governments and a maximum of NT$140 billion to be shared with the public, according to a government proposal. Other parts of the extra revenue will be used to fund the labor and health insurance systems, fuel and transportation subsidies, as well as government programs to help make the economy more resilient.
However, the budget for the tax rebates still has to be decided by the Cabinet on Thursday (Feb. 23), presented by Premier Chen Chien-jen (陳建仁) on March 3, discussed by lawmakers, and voted on by the Legislative Yuan on April 11 before the cash can actually reach the public, the Liberty Times reported.
Tuesday’s vote also approved financial aid for the repayment of student loans, and subsidies for an estimated 900,000 people aged 18 to 21 to spend on cultural activities, including visits to exhibitions, the viewing of Taiwanese movies, and the purchase of books or works of art.
During discussions on Tuesday, the opposition Kuomintang (KMT) submitted a proposal to hand out NT$10,000 instead of NT$6,000, but the increase was rejected.
