The Taiwanese Ministry of Finance is reported to have proposed the following measures in recent draft legislation: (a) to reduce the top individual income tax rate from 40% to 35%, (b) gradually to lower the corporate tax rate from 25% to 15%, (c) to reduce the estate and gift tax and (d) to remove the 10% tax on undistributed corporate earnings.
It has been reported that the potential revenue loss resulting from the above tax reductions will be compe…