Update: 01/04 12:05 p.m.
According to a CNA report published at 12:04 today (Jan.4) the government will issue a cash-back distribution of NT$6,000 (US$180) to every citizen. Previous news reports had put the figure at NT$5,000 (US$150).
TAIPEI (Taiwan News) — The government is planning to use surplus tax income from 2022 to fund local governments and the labor and health insurance systems, while also distributing "red envelopes" to citizens.
According to the China Times report, a preliminary government plan is underway to distribute NT$5,000 (US$150) to every citizen. Administrative procedures will prevent this “red envelope”from arriving before the Lunar New Year, with funds most likely to be distributed at the end of February or early March.
The Ministry of Finance pegged 2022 surplus national tax revenue at NT$450 billion (US$14.66 billion). Allocation of these funds is expected to be as follows: NT$70 billion to local governments, and the remaining NT$380 billion to the central government.
Regarding the central government's distribution on Tuesday (Jan.3), President Tsai Ing-wen (蔡英文) and Premier Su Tseng-chang (蘇貞昌) said NT$100 billion will be allocated to cover labor and health insurance gaps and an electricity subsidy. Another NT$100 billion will be used to launch an economic plan to strengthen resiliency.
This left NT$180 billion (US$5.86 billion) in surplus tax revenue for unexpected needs. Many politicians have called for cash distribution to the public instead of keeping the funds in public coffers.
According to local media, the Executive Yuan will submit a special bill to be voted on by the Legislative Yuan. Passage of the bill would create a special budget to fund the cash distribution which will be made via remittance into citizens' personal bank accounts.
