Taiwan Passes Bill Abolishing Entertainment Tax; Taipei Estimates 300M TWD Annual Revenue Loss

(CNA Reporters Chen Yu-ting, Liu Chien-pang, Taipei, April 24th) The Legislative Yuan today passed the third reading of amendments to parts of the "Entertainment Tax Act," removing the entertainment tax on activities such as movies and concerts. Taipei Mayor Chiang Wan-an expressed satisfaction with the smooth passage of the law. The city government estimates an annual impact on tax revenue of nearly 300 million TWD.

The Legislative Yuan today amended and passed parts of the "Entertainment Tax Act," deleting entertainment taxes on movies, professional singing, storytelling, dancing, circus, magic, skill performances, nightclubs, drama, musical performances, non-professional singing, dance performances, and various athletic competitions.

Chiang Wan-an made these remarks while being interviewed after briefing the Taiwan People's Party caucus of the Taipei City Council on major bills. He said he was glad to see the central government and the Legislative Yuan successfully pass the amendment. Once the amended articles are in effect, the city government will stop collecting entertainment taxes on movies, concerts, and various sports events, hoping to drive the development and enhancement of related industries.

Taipei Finance Department Commissioner Hu Xiao-lan added that the Taipei City Government is vigorously promoting the development of cultural industries such as the "Concert Economy." After the President announces the effective date of the amendments, the city will stop collecting entertainment taxes on relevant items, with an estimated annual impact on tax revenue of nearly 300 million TWD. (Editor: Lung Po-an) 1150424