At an award ceremony held today by the Ministry of Finance (MOF) to recognize outstanding taxation and customs personnel, Premier Mao Chi-kuo pledged that the government will continue promoting tax reforms and employing innovative technologies to provide more convenient services to systems.
Mao noted that Taiwan's tax revenues for the first five months of this year amounted to nearly NT$750 billion (US$24 billion), up by NT$40 billion (US$1.29 billion) or 5.8 percent from last year. Moreover, government borrowing in 2015 is expected to be NT$49.1 billion (US$1.58 billion) less than in 2014 thanks to fiscal improvement and debt reduction initiatives. The premier also credited MOF personnel with helping to stabilize government income and expenditure flows.
Referring to the Legislature's recent approval of amendments regarding an integrated housing and land tax system, Premier Mao said the system's launch next January 1 will mark a milestone in Taiwan's tax reform.
"The system will not only promote housing justice, but also bring in additional tax revenues that can be used to help young and disadvantaged people and fund long-term care for senior citizens."
Mao encouraged the tax and custom officials to continue pushing reforms and creating a fairer tax system. It is important to reform the system in line with societal and global trends in order to bolster Taiwan's competitiveness and ensure its sustainable development. Tax services must also meet people's expectations and needs, address their concerns, and make processes more convenient for everyone.
Next, he urged the officials to use information and communications technologies (ICT) to provide more creative services. ICT advances and innovation can help agencies implement policies in a more forward-looking manner, hence the MOF should learn from private companies how to create newer and better tax and customs services.
Last, the premier asked the MOF to strengthen its international ties and create conditions favorable for Taiwan's integration into the regional economy. Given the island's limited natural resources and small domestic market, Taiwan must rely on foreign trade for its economic growth, which is why regional economic integration is so important. The MOF should continue pushing international finance and customs cooperation, take part in multilateral and bilateral trade negotiations, and build world-class tax and customs environment.