payable by the owner of the house and is based on 3% of the assessed value for business purposes or 1.38% of the assessed value for residential purposes. There is a reduction for factory buildings directly used by the owner for manu- facturing purposes, when they are taxed at the rate of 1.85% of the assessed value.
Estate Tax
Estate Tax is levied on the estate of a resident dying in or having property within the jurisdiction of Taiwan when the net value exceeds £600. This rate varies from 4% of the net value between £600 and £1,200 and the highest rates applied to estates valued at £6,000 and over are taxed in the amount of £2,879 + 70% on the excess value over £6,000.
Taiwan Factories
During the time we spent in Taiwan we had the opportunity of visiting a number of factories and were impressed by the newness of the factories and the equipment being installed. All the factories we visited were equipped with new or reasonably new machinery in well laid out plants which were working at a reasonable but not a high tempo.
Again in Taiwan, as in Hong Kong, the delegation was convinced that in the factories it visited more people were utilised in the productive operations than would be the case in the United Kingdom, the workloads being much lower than would be acceptable at home.
Since the majority of the work was undertaken on a time rate basis, there was a certain feeling of lethargy in the factories. This impression was conveyed to us by management since the people running the various factories had a dynamic approach, constantly looking for the opportunity to increase their turnover by exporting goods to the extent that they operated on the assumption of a 21 year basis for the return of capital.
Factory (i)
FACTORY VISITS
The first factory we visited in Taiwan commenced production three years ago and is steadily improving its output and the quality of the fabric it produces. The company makes outerwear and about 70% of it from crimplene fabric. The export of all their production is predominantly to Canada and the U.S.A. The company employs 100 people, the knitting and finishing plant working three shifts.
This company is part of a large combine, the parent company being a yarn producer who supplies yarn to this company where dyeing is done in the piece it is done on the premises but where solid dyed yarn is used it is produced from the parent company already dyed.
The knitting and the finishing sections are paid on a time rate; the examining and machining are paid on piece rate performances. The knitters work a 10 hour day, six days per week and are paid 60 U.S.A. dollars per month. Machinists work an 8 hour day, six days per week and their pay is approximately 32 U.S.A. dollars per month. In addition to these rates of pay the operatives are provided
35
No comments yet.
Private notes are available after approval.