June 6, 2006
The Legislative Yuan's Economics and Energy Committee has recently approved the first reading of amendments to the Statute for Upgrading Industries, which would increase taxes on bonus shares for company employees.
Under the new amendment bill, shares given as bonuses by firms would be taxed at 80% of their fair market value, instead of the face value of
NTD 10 per share. Fair market value would be based on the average price in one month before the shares are issued, according to the draft bill.
The proposed amendments are due for further discussion between government and lawmakers before a second reading.
(Taipei Times, Broadcasting Corporation of China)
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