KMT tax proposal may force policy review

By Shih Hsiu-chuan and Chris Wang  /  Staff reporters
Wed, May 30, 2012 - Page 3

The Chinese Nationalist Party (KMT) legislative caucus has rejected the Cabinet’s version of a proposal to tax capital gains on securities transactions, marking the latest move that may force President Ma Ying-jeou’s (馬英九) administration to consider overhauling its major taxation policy.

“We will review all versions to see whether they are in line with vital principles governing imposition of taxes and examine their feasibility,” Premier Sean Chen said yesterday when asked about the KMT caucus’ move.

Military unit denies overspending on Sun Moon Lake trip

By Chris Wang  /  Staff reporter

The Armed Forces Reserve Command was yesterday accused of spending more than NT$1 million (US$33,750) on a luxury tour for more than 150 retired generals and their families. The agency has denied any wrongdoing.

The command, a unit under the Ministry of National Defense, organized a tour scheduled yesterday and today to various sight-seeing spots and institutions in central Taiwan for about 180 retired generals and their families.

New DPP boss rings in changes

FRESH START:Incoming DPP chairman Su Tseng-chang has plans to re-establish the DPP’s Department of China Affairs, and representative offices in the US and Japan
By Chris Wang  /  Staff Reporter

Incoming Democratic Progressive Party (DPP) chairman Su Tseng-chang (蘇貞昌) is set to officially take the party’s helm today and has already laid out several major changes to improve the party’s external relations and connections.

The DPP would re-establish a representative office in the US, as well as one in Japan, if possible, Su told reporters outside his office yesterday.

Liu offers to resign over tax uproar

DISAGREEMENTS:：The finance minister said she felt she had to leave because she disagreed with a new version of a capital gains tax bill proposed by KMT lawmakers
By Shih Hsiu-chuan, Amy Su and Chris Wang  /  Staff reporters
Wed, May 30, 2012 - Page 1

Minister of Finance Christina Liu (劉憶如) offered to resign yesterday after a capital gains tax she enthusiastically proposed was rejected by Chinese Nationalist Party (KMT) lawmakers at a meeting on Monday.

After meeting with Premier Sean Chen yesterday evening, she reiterated her intention to resign, but added that she would wait until the Executive Yuan finds a successor.

At 10:42pm, Executive Yuan spokesperson Hu Yu-wei (胡幼偉) told the press that Chen had not approved Liu’s resignation.

Parties prepare for vote on stocks tax

MAJOR SENSITIVITIES:：The PFP party whip said more discussion was needed over the bill, debate of which had already caused a fall off in stock market trading volume
By Chris Wang  /  Staff reporter
Tue, May 29, 2012 - Page 3

The Chinese Nationalist Party (KMT) and Democratic Progressive Party (DPP) are readying for a battle next week over the proposed capital gains tax on stock transactions that has rocked the stock market in recent weeks.

The KMT caucus is under pressure to vote in favor of the controversial tax, which President Ma Ying-jeou (馬英九) said was an integral part of his tax reform, before the end of the current legislative session next month.

Trading volume on the stock market has plummeted since the Ma administration announced its plan to impose the tax as investors wait for more details about the proposed new tax regulation.

Su extends olive branch to China

UNITY NO. 1:While the DPP’s China policy will be high on the list, the top priority for Su Tseng-chang will be to smooth over tensions among factions within the party
By Chris Wang  /  Staff reporter

The Democratic Progressive Party (DPP) will take a flexible approach to China and will re-open its department of China affairs, incoming party chairman Su Tseng-chang (蘇貞昌) has announced, following his landslide win in Sunday’s leadership vote.

Su, who garnered 50.47 percent of the total votes in the five-man race, will assume the party’s leadership from interim chairperson Chen Chu (陳菊) in a ceremony tomorrow.

REPORTER’S NOTEBOOK: Su eyes presidential bid as successful DPP chairman

By Chris Wang

Yesterday could mark the beginning of the most important two years in former premier Su Tseng-chang’s (蘇貞昌) more than three-decade political career after his convincing victory in the Democratic Progressive Party (DPP) chairperson election.

Although the attorney-turned-politician has never discussed the subject in public, his ambition to run for the presidency in 2016 is an open secret.

Now that he has cleared the first hurdle toward that goal, the internal and external challenges ahead will be daunting.

Economy should be like Noah’s Ark: Lee Teng-hui

TWO PILLARS:Lee stressed economic independence and technologically driven growth, and criticized the outsourcing of the nation’s manufacturing to China
By Chris Wang  /  Staff reporter

Taiwan’s economy should be built to resemble a vessel that is safe and durable like Noah’s Ark, rather than a Titanic that stresses speed and size and ignores the fundamentals, former president Lee Teng-hui (李登輝) wrote in a statement yesterday.

Lee used the analogy to highlight his analysis of Taiwan’s economy in a seminar, organized by Taiwan Advocates, a think tank founded by the former president, which focused on national economic development.

Su Tseng-chang wins DPP chair vote

LANDSLIDE VICTORY:Su won 50.47% of the vote, with Su Huan-chih coming in second, at just over 21%, in an election that saw a record-high turnout of 68.62%
By Chris Wang  /  Staff reporter

Former premier Su Tseng-chang (蘇貞昌) yesterday became the new chairman of the Democratic Progressive Party (DPP), easily beating his four opponents in a race that could have a major impact on the future direction of the party.

Su obtained 50.47 percent of the vote by 163,808 registered members, with former Tainan County commissioner Su Huan-chih (蘇煥智) coming a distant second, with 21.02 percent.

The 64-year-old will serve as the DPP chairperson for the second time, after a brief stint between February and December 2005.

Executive Yuan’s NCC nominees ‘ridiculous’: DPP

By Chris Wang  /  Staff reporter

The Executive Yuan was advised to select new candidates to fill the four vacancies on the National Communications Commission (NCC) because the current nominees were “highly unqualified,” the Democratic Progressive Party (DPP) legislative caucus said yesterday.

The Executive Yuan nominated former NCC vice chairman Howard Shyr (石世豪), a professor at National Dong Hwa University, as NCC chairperson and Yu Hsiao-cheng (虞孝成), a professor at National Chiao Tung University, as vice chairperson.