Taiwan's Ministry of Finance has announced that the Legislative Yuan approved on 13 April 2018 an extension of the reduced Securities Transaction Tax for day trading on the Taiwan securities market. The tax was reduced from 0.3% to 0.15% in April 2017 for a period of one year in order to support the market by promoting liquidity and trade volume, which reportedly resulted in a 20% increase. With the approval of the Legislative Yuan, the reduction now applies until 31 December 2021.