Ministry insists heads of state firms chosen for skills
By Crystal Hsu / Staff reporter
The Ministry of Finance yesterday said that professional credentials are what determine its top choices for chief executives of state-run financial institutions, in an attempt to rebut media reports about political intervention.
The clarification came after local Chinese-language media said that political influence was behind leadership reshuffles at First Securities Inc (第一金證券), Mega Securities Co (兆豐證券) and other companies where the ministry controls a majority stake and names senior executives, with approval from the Executive Yuan.
The ministry said that former First Securities chairman Yeh Kuang-chang (葉光章) tendered his resignation after it launched a probe into allegations of mismanagement and misconduct.
Finance Committee set to review property tax bills
SEEKING MARKET CONTROL: One bill would increase taxes on reselling a property within five years of buying it, but a property developer urged against any changes
By Crystal Hsu / Staff reporter
The legislature’s Finance Committee is tomorrow to review bills to stiffen property tax terms in yet another attempt to discourage short-term property speculation that has gained momentum amid excessive liquidity and low interest rates.
Legislators have introduced their own bills that differ on the definition of short-term ownership, after the Cabinet last week proposed extending the period from two to five years.