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.
2020/12/17 16:58 The Minglun social housing project in Taipei City The Minglun social housing project in Taipei City (CNA photo) TAIPEI (Taiwan News) The Ministry of Finance said Thursday (Dec. 17) it is considering reforming taxes in order to counter real estate speculation. Finance Minister Su Jain-rong (蘇建榮) made the remarks after data were released showing that 450,000 people in the country own three apartments or houses, and more than 88,000 own between six and 30 properties, Radio Taiwan International (RTI) reported. According to regular legal procedures, it will take about one year to complete the necessary amendments to legislation for the combined tax on building and land sales (房地合一稅), Su told lawmakers, as the changes need the approval of both the Cabinet and the Legislative Yuan.