TAIPEI (TVBS News) — Taiwan's Executive Yuan has approved a budget of NT＄6,000 for each citizen and eligible foreign nationals to provide economic relief in the wake of the soaring living costs.
Premier Chen Chien-jen announced the plan at a press conference on Thursday (Feb. 23) and expressed a desire for quick approval from the Legislative Yuan.
The cash rebate is set to be distributed starting in April, with even babies born within the six-month withdrawal window being eligible.
The government aims to use NT＄141.7 billion of last year's NT＄380 billion tax surplus for the cash rebate, with an additional NT＄400 million allocated for handling fees, ATM fees, and other expenses.
The rebate can be obtained through five methods, including wire transfers and ATM cash withdrawals.
While some opposition parties, like the Kuomintang (KMT), proposed increasing the cash rebate to NT＄10,000, Premier Chen believes that NT＄6,000 is reasonable given the diverse impacts of the pandemic on Taiwan's economy.