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Taiwan cabinet approves inheritance, gift tax rate cuts to 10 per cent.
Text of report in English by Taiwanese Central News Agency website
[By Lilian Wu]
Taipei, Oct. 16 (CNA) - The Executive Yuan approved Thursday an inheritance and gift tax rate reform proposal submitted by the Ministry of Finance which cuts the maximum marginal rate to a uniform 10 per cent.
The inheritance tax deduction will be increased to NT$12m (US$369,230) from the current NT$7.79m, while the gift tax reductions will be raised to NT$2.2m from NT$1.1m.
At present, the maximum marginal inheritance …
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