Good Morning World》Income Tax Basic Living Expenses, Long-term Care Deductions Increased, 2.3 Million Households Benefit

Central News Agency

May tax season is about to begin, with filing dates from May 1st to June 1st. Starting April 28th, the public can inquire about their 2025 income and deduction data. This year, an estimated over 7 million households will file comprehensive income tax. Due to the increase in basic living expenses and the adjustment of the special deduction for long-term care, an estimated 2.3 million households will benefit, with an estimated tax reduction of NT$13.9 billion. The Ministry of Finance reminds that starting this year, the four major convenience stores will no longer provide National Health Insurance card authentication services for inquiries; the public can instead use citizen digital certificates. Additionally, May 1st is a national holiday, and local tax bureaus will not provide in-person tax filing services. Those wishing to file taxes on that day can use online filing and online payment. (See full report)

Affected by job changes after the Lunar New Year, the Directorate-General of Budget, Accounting and Statistics announced on the 23rd that the unemployment rate in March rose to 3.34%, an increase of 0.02 percentage points month-on-month, rising for two consecutive months. DGBAS officials stated that the overall labor market remains stable, and the impact of the Middle East conflict has not yet been observed. Additionally, the Ministry of Economic Affairs announced on the 23rd that the industrial and manufacturing production indices for March both hit new single-month highs, achieving 25 consecutive months of positive growth. The Department of Statistics of the Ministry of Economic Affairs pointed out that the continuous expansion of AI and high-performance computing demand has become the main growth driver. Although the Middle East conflict affected the supply of raw materials for some traditional industries, with inventory support and government assistance, the overall impact on March production was limited. (See full report)

Although US Republicans have repeatedly blocked Democrats from invoking the "War Powers Act" to order a halt to the war against Iran, the 60-day threshold stipulated by the War Powers Act will arrive on May 1st. At that time, US President Trump must cease military operations against Iran or seek formal authorization from Congress. The War Powers Act aims to limit the president's power to wage war without congressional approval, stipulating that unless Congress formally declares war or authorizes the use of force, the president must terminate military action within 60 days. If it is to ensure the safety of troop withdrawal, an additional 30-day buffer can be requested. In addition, the US Pentagon, in a classified briefing to lawmakers, assessed that a complete clearance of mines in the Strait of Hormuz could take 6 months, implying that gasoline and oil prices could remain high until the US midterm elections in November. (See full report)

China's Gaode Maps App allows users to view "traffic light countdowns" for some roads in Taiwan, raising concerns about cybersecurity risks. The Ministry of Digital Affairs stated on the 23rd that, according to the Cybersecurity Management Act, Gaode Maps is a product that endangers national cybersecurity, and government agencies are prohibited from using it. A cybersecurity risk assessment will be announced in May. The Ministry of Transportation and Communications stated that the government has never provided relevant data to the software and said that Gaode Maps' traffic light countdowns are estimated through big data. Defense Minister Gu Lixiong said in an interview that the Ministry of National Defense will follow the Ministry of Digital Affairs' stance to prohibit downloading and using it, and will also instruct all military personnel to comply. (See full report)

Taiwan's Central Weather Administration pointed out that two cold fronts will arrive in the coming week. The first front has been affecting the region since the 23rd, with the heaviest rainfall expected until the early morning of the 24th, and central and northern areas should be aware of short-duration torrential rain. The CWA predicts that on the 25th, the cloud and rain area from southern China and the northeast monsoon will move eastward, bringing cooler temperatures across Taiwan. Central and southern regions should be aware of localized brief thunderstorms with a higher chance of heavier rainfall. High temperatures in northern regions will be around 23 to 24 degrees Celsius, with lows around 19 to 20 degrees. Highs in central and southern regions will be 27 to 28 degrees, and around 30 degrees in the south. (See full report)

Taiwan stocks on the 23rd, led by TSMC's new record high of NT$2135, saw the index rise by as much as 1043 points during trading, pushing the Taiex to a new historical high of 38921.95 points. However, the rapid surge also triggered profit-taking pressure, with the index fluctuating by 1757.51 points in a single day. The concentrated market index closed down 164.32 points at 37714.15 points, with a new record trading volume of NT$1.4014 trillion. From the low of 17306.97 points in April last year due to equivalent tariff impacts, to the high of 38921.95 points on the 23rd, the Taiex surged by 21614.98 points, or 1.24 times, in one year. Current regulations for domestic equity funds and actively managed ETFs investing in Taiwan stocks limit the proportion of a single company's shares to no more than 10% of the net asset value. The Financial Supervisory Commission announced a conditional relaxation: if a listed company's weighting in the Taiwan stock market exceeds 10%, it will not be subject to the 10% investment limit, but the upper limit still cannot exceed 25% of the fund's net asset value. Currently, only TSMC, whose weighting in the Taiwan stock market exceeds 10%, is applicable to this new system. (See full report)

In response to rising oil prices due to the Middle East situation, the Executive Yuan stated on April 23rd that taxis are an important part of the public transportation system, and a special fuel subsidy program will be launched for 90,000 legally registered taxis starting in May. The Ministry of Transportation and Communications expects to launch the taxi fuel subsidy program on May 20th, with CPC Corporation, Taiwan as the initial partner. Eligible taxi drivers can apply for a "Taxi Discount Card" or use existing cards to enjoy a discount of NT$5 per liter of gasoline, with a maximum subsidy of NT$6,000, usable until the end of the year. Minister of Transportation and Communications Chen Shih-kai stated that the transportation industry is most affected by soaring oil prices. Rail transportation uses electricity, and he thanked Taipower for not increasing electricity rates. Taxis are the most directly impacted, so the subsidy measure was launched, hoping to provide immediate relief to taxi drivers. In response, taxi drivers pointed out that the subsidy measure reduces cost pressure and greatly helps the industry. (See full report)

Taipei Metro Xinyi Line East Extension connects to the end track of Xiangshan Station, extending eastward along Section 6 of Xinyi Road to Guangci Benevolent Park, adding the terminal station "Guangci/Fengtian Temple Station," with a total length of approximately 1.4 kilometers. The Taipei City Department of Rapid Transit Systems stated on the 23rd that the project progress has reached 90%, and it is expected to submit for operational inspection by the Ministry of Transportation and Communications in June, with the earliest opening in late June. A one-month free ride trial operation may be planned. (See full report)

Regarding the case of Liang Yu-chih, who murdered a Malaysian female student from Chang Jung Christian University, he was sentenced to death three times from the first trial to the first retrial. The Kaohsiung Branch of the Taiwan High Court, in its second retrial, changed the verdict, sentencing Liang Yu-chih to life imprisonment for the crime of forced sexual intercourse and murder of the victim, and 8 years imprisonment for robbery. For the life imprisonment part, lifelong deprivation of civil rights was declared. The Supreme Court rejected the appeal on the 23rd, upholding Liang Yu-chih's life imprisonment and lifelong deprivation of civil rights. (See full report)