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Kuomintang Presidential Candidate Hou Youyi’s Views on Tax Reform: Increasing Basic Salary and Promoting Fairness and Justice

Kuomintang presidential candidate Hou Youyi expressed his views on tax reform yesterday, advocating a gradual increase in the basic salary to NT$33,000.Reporter Pan Junhong/Photography

Kuomintang presidential candidate Hou Youyi introduced economic and political views yesterday to capture the votes of young people and the general public. For those whose comprehensive net income exceeds 10 million yuan and whose salary is less than 30%, a 45% wealthy person tax will be levied to implement fairness and justice; Hou also advocated the use of tax deductions to encourage listed OTC companies , small and medium-sized enterprises have raised wages for their workers, and the basic salary has been raised to 33,000 yuan year by year.

Hou Youyi proposed “reduce taxes, and companies will raise wages.” By reducing taxes, companies will be encouraged to raise wages, so that the wages of salaried workers will increase. The salary increase for listed companies is usually two thousandths of the after-tax surplus. If the salary increase is 1% of the after-tax surplus, it can be deducted from the profit income by 150%. .

Hou Youyi also mentioned that currently, small and medium-sized enterprises can deduct 130% of their business income for salary increases for employees, and the deduction amount will be increased to 200% in the future. As for the tax deduction for young people’s salary increase, it has also been increased from 150% for those under the age of 24 to 220% for those under the age of 30. Hou also promised that after being elected, he would increase his basic salary to 33,000 yuan year by year.

Hou Youyi proposed “Lighten taxes and protect workers.” He explained that low-wage office workers refer to those whose net income is less than 560,000, whose salary income accounts for more than 70% of the total taxable amount, and whose non-professional income does not exceed 30%. This group of people Income tax cut in half. In order to encourage childbirth, the deduction for those raising children under the age of 12 has been increased to 50%, from the current NT$92,000 to NT$138,000.

Hou Youyi also advocates the introduction of a tax on the rich. Those whose comprehensive net income exceeds 10 million yuan and whose salary is less than 30% will be levied an income tax of 45%; and those whose dividend income is subject to separate taxation, the tax rate will be 100%. from 28% to 32%.

Du Zijun, convener of the National Advisory Group, added that this tax adjustment measure is not a big money throw, but a very precise tax adjustment measure to help those who need it most. The rich tax is levied on those whose income comes from capital gains such as real estate and dividends. It will not have an impact on salaried groups whose main income is salary.

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2023-09-08 22:28:53
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