Officials propose plan to cut oil taxes

The Taiwanese Ministry of Finance and the Ministry of Economic Affairs have hammered out a plan to cut commodity taxes on gasoline, diesel and fuel oil by 30 percent for a period of three months from October, pending Cabinet approval.

The commodity tax on jet fuel oil would remain unchanged, as it is taxed less heavily. This will be the first time in 15 years that these commodity taxes are cut. The government slashed commodity taxes on oil products by 50 percent for a year in 1990 during the Gulf War.

Taipei Times