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The legislature yesterday approved an additional NT$159.893 billion (US$5.76 billion) of funding for COVID-19 relief and prevention NT$170 million less than the Cabinet’s proposal of NT$160 billion. Approved by the Cabinet in September, the additional funds are to be allocated to COVID-19 prevention and control, and financial relief, including stimulus spending. However, following the completion of the legislature’s review on Wednesday, the proposed funding was cut by NT$170 million. COVID-19 prevention and control including enhancing testing capacity, establishing screening stations, amd mass vaccination programs, opening COVID-19 consultation hotlines and procuring medication for treatment of patients is to be allocated NT$18.9 ....
The nation’s tax revenue continued to soar this year despite the COVID-19 pandemic. From January through last month, the state coffers swelled by NT$2.46 trillion (US$88.5 billion) in revenue, a 22.5 percent increase over the same period last year, and 17.7 percent higher than the government’s budget for the year, the latest government data showed on Nov. 10. In the first 10 months of the year, collections from taxes on corporate income, securities transactions, business and personal income were 48.5 percent, 96.7 percent, 15.6 percent and 3.8 percent higher than the same period last year respectively. That is because of profit ....
Taiwan s payment card market will grow by 15.2% in 2021, according to a press release from GlobalData. This follows a slump in the market in 2020 due to COVID-19. The market will reach $130.6 billion in 2021 and grow at a compound annual growth rate of 9.5% to reach $187.7 billion in 2025. ....
Necessary items were the top pick for people when asked what they planned to spend their Quintuple Stimulus Vouchers on, with 39.3 percent of respondents to a survey by Cathay Financial Holdings Co (國泰金控) released yesterday saying that groceries and other such items were on their list, while 26.4 percent had planned trips to department stores. The survey showed that 11.3 percent of respondents planned to spend their vouchers on travel and 9.9 percent on dining out. The survey showed that people are more likely to use the vouchers at shopping malls or restaurants than last year, Cathay Financial said in a ....
Applications to defer credit card payments last month plunged 90 percent from June, suggesting a tapering of loan demand, Mega International Commercial Bank (兆豐銀行) said yesterday, citing its own statistics. Mega International attributed the rapid decline to a quick recovery in consumer activity after the public health situation stabilized in late July following a domestic outbreak of COVID-19 in May, allowing most businesses to resume operations. The Financial Supervisory Commission in May asked domestic banks to provide interest-free moratoriums of three to six months to customers with credit card and loan payments due in June, Mega International said. The move was intended to ....