Taiwan’s Ministry of Finance has issued a notice announcing that due to recent increases in oil and raw material prices, the Executive Yuan (Cabinet) has approved a reduction in excise (commodity) taxes and import tariffs on several goods. This includes a reduction in excise taxes on gasoline, diesel, and cement, and the reduction of import tariffs on 22 items, including beef, wheat, baking milk powder, butter, and others. A separate notice has also been issued announcing a 100% reduction in business tax on the imports of soybeans, wheat, and corn. The tax and tariff reductions as per both notices have been approved from 7 February to 30 April 2022.
Source Orbitax
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