A tax incentive package to encourage purchases of energy-efficient home appliances that is set to expire on June 14 would be extended by an additional two years, the Ministry of Finance (MOF) said yesterday.
The ministry has proposed a draft amendment to the Commodity Tax Act (貨物稅條例) that would extend the tax breaks on select energy-saving appliances until June 14, 2023.
Article 11-1 of the act stipulates that a commodity tax cut of up to NT$2,000 (US$70.58) would be given for purchases of new refrigerators, air conditioners or dehumidifiers that meet either Level 1 or 2 energy-saving standard specified under the Bureau of Energy’s energy-efficiency rating program from June 15, 2019, to June 14 this year.
Photo: Wu Pei-hua, Taipei Times
The incentive has contributed greatly to energy savings and carbon emissions reduction, while reducing electricity bills for consumers, the ministry said.
The draft amendment is subject to a 20-day public comment period starting yesterday, it added.
Ministry of Economic Affairs statistics showed that 10 years or older air conditioners and refrigerators account for 42.72 percent of those used in homes in Taiwan, prompting the finance ministry to propose extending the incentive.
As of the end of last year, 2.657 million applications for tax deductions had been filed, which translates into NT$4.47 billion in tax rebates, finance ministry statistics showed.
The New Taiwan dollar is on the verge of overtaking the yuan as Asia’s best carry-trade target given its lower risk of interest-rate and currency volatility. A strategy of borrowing the New Taiwan dollar to invest in higher-yielding alternatives has generated the second-highest return over the past month among Asian currencies behind the yuan, based on the Sharpe ratio that measures risk-adjusted relative returns. The New Taiwan dollar may soon replace its Chinese peer as the region’s favored carry trade tool, analysts say, citing Beijing’s efforts to support the yuan that can create wild swings in borrowing costs. In contrast,
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing
RSS