TISA Reaches 120,000 Accounts; FSC Continues Negotiations with Ministry of Finance for Tax Incentives

(Central News Agency, Taipei, 23rd, Reporter Su Szu-yun) As the Financial Supervisory Commission (FSC) pushes to develop Taiwan into an Asian Asset Management Center, public attention is focused on the progress of the Taiwan Individual Savings Account (TISA) system launched last year, as well as whether there will be tax incentives. The FSC stated today that TISA has reached 123,699 accounts, with a subscription amount of NT$4.88 billion. The FSC has proposed different plans and continues to communicate and negotiate with the Ministry of Finance to secure tax incentives.

Elaborating on the two phases of TISA, the FSC explained that the first phase was launched in July of last year. In this phase, participating asset management companies concede profits by offering discounts on handling fees and management fees. For the second phase, the FSC will continue to communicate with the Ministry of Finance to strive for new policy incentives.

Huang Chung-hao, Deputy Director-General of the Securities and Futures Bureau of the FSC, stated that according to statistics from July 1 last year to April 17 this year, the number of TISA accounts has reached 123,699, with a subscription amount of NT$4.88 billion, and the total Assets Under Management (AUM) in TISA accounts is NT$13.77 billion. Currently, there is a total of 13 sales institutions. Overall, 25 investment trust companies have issued 41 TISA-class funds. If the previous 'Hao Xiang Tui' (Retirement Savings Fund) is included in the scope of TISA funds, the total number of funds is 73.

Huang Chung-hao explained that TISA does not have a specifically set target because of its long-term investment nature. It can serve as the third pillar for citizens after retirement, encouraging people to accumulate wealth through systematic investments. The FSC has also proposed various tax incentive plans and is in continuous dialogue with the Ministry of Finance to secure these benefits.