Tax exemption on corn and soy extended
Agriculture Minister Chen Chi-chung says the government will be extending business tax exemptions on corn and soy beans for two more months.
The government in early February announced that the business tax on imported corn and soy beans would be removed from 7 February through 30 April in a bid to stabilize consumer prices.
However, Chen says that deadline has now been extended as part of government efforts to stabilize agricultural production due to concerns about shortages caused by the on-going conflict in Ukraine, which is affecting global food production.
The agriculture minister says farmers in Taiwan are also being advised to double the areas on which they plant corn as a further precaution against shortages.