Taiwan allows air, sea carriers to remit Chinese revenues
Taiwan's Legislative Yuan approved a revision to the Act Governing the Relations between the Peoples of the Taiwan Area and the Mainland Area Friday to allow local air carriers and shipping companies to wire revenues earned in China back to Taiwan. The revision was necessary because although two transport agreements covering air and sea carriers between Taiwan and China were signed in 2009 that permitted carriers on both sides to remit their revenues earned within the other's jurisdiction tax-free, it could not be implemented without the act's revision.
The problem is especially serious for air carriers that have accumulated more than NT$6.5 billion (US$203.08 million) in China-earned revenues since direct flights were launched between the two sides in July 2008.
The problem is especially serious for air carriers that have accumulated more than NT$6.5 billion (US$203.08 million) in China-earned revenues since direct flights were launched between the two sides in July 2008.