Taiwan firms want tax breaks, COVID-19 vaccines and wage subsidies

Taiwanese firms in the manufacturing sector place wage subsidies, a business tax concession and COVID-19 vaccines as their most urgent needs, showed a survey by the Chinese National Federation of Industries (CNFI).

Some 75.15% of the manufacturers surveyed are most concerned about obtaining COVID-19 vaccines, with many of them expressing a preference for the Moderna, Pfizer-BioNTech and AstraZeneca brands.

The survey also revealed that 72.59% of manufacturers are hoping for a business tax break, while 71.25% would like to receive wage subsidies from the government to help them meet their payroll costs as their operations are affected by tighter restrictions to contain the COVID-19 outbreak. 

Over 60% of manufacturers have reported a drop in revenue due to dwindling orders and rising production costs caused by higher raw material prices, said CNFI. 

In light of several cluster infections at some of the electronic plants, large electronic firms are also concerned about the vaccination rate in the country. 

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Taiwan has been under a national Level 3 alert since May 19, where gatherings and on-site dining are prohibited, people are advised to stay home as much as possible and non-essential businesses are closed.