Reported about 1 year ago
The Budget Act, also known as the Financial Revenues and Expenditures Distribution Act, has been a challenge for the ruling party in the legislature as various versions of the amendment have been proposed by the Kuomintang, People First Party, and individual lawmakers. The lack of consensus on funding sources and distribution methods has delayed the amendment for 25 years. The act defines the allocation of financial revenues and expenditures for all levels of government, aiming to establish financial relationships between the central and local governments for balanced regional development. The central and local governments distribute revenue sources according to tax laws, including national taxes and city/county taxes, with a portion of national taxes being cohesively allocated back to local governments to support regional development. The proposed amendments focus on increasing financial resources for local governments. The Legislative Yuan is still in the process of reviewing the various amendment versions.
Source: YAHOO