Taiwan mulls capital gains tax on derivatives to shrink wealth gap

Taiwan's finance ministry is considering a capital gains tax on stock and bond trades for next year, as well as on derivative products. The levy scheme is meant to add to the government's coffers and to seek social justice to rein in a widening wealth gap, according to finance minister, Christina Liu. Under the current plan, a 12% tax rate will be applied to holdings of stocks, bonds and derivatives which see increases in excess of TW$500,000, or just under $17,000 a year. Retail investors who