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Extending the period to reduce the Commodity Tax for cement, gasoline, and diesel, and exempt the Business Tax for imported soybeans, wheat, and corn, from January 1 to March 31, 2024.

Considering the ongoing Russia-Ukraine war and the outbreak of the Israel-Palestine conflict in October, to ease the pricing pressure of bulk commodities, reduce domestic manufacturing costs, and ensure the livelihood of the people, the Executive Yuan approved extending the period of the reduction of the Commodity Tax for Portland I cement, gasoline, and diesel, and Business Tax exemption for imported soybeans, wheat, and corn from January 1 to March 31, 2024.

The Ministry of Finance points out that the amount of Commodity Tax on Portland I cement has been adjusted from NT$320/mt to NT$160/mt, gasoline from NT$6.83/liter to NT$4.83/liter, and diesel from NT$3.99/liter to NT$2.49 /liter, as well as the Business Tax rate on imported soybeans, wheat, and corn, which has been adjusted from 5% to 0%.

The Ministry of Finance appeals to business entities and importers to reflect on the benefits of tax cuts and lower the selling prices of their commodities in response to the government's policy of stabilizing prices.

Press Release Contact: Mr. Yu, Section Chief; Mr. Liang, Section Chief
Phone: 02-2322-8139, 02-2322-8146

Issued:Taxation Administration Release date:2023-11-24 Last updated:2023-11-24 Click times:202