Taiwanese government launched Stimulus Vouchers to help boost consumption
Amid the COVID-19 outbreak, the government will release NT$3,000 revitalization vouchers with the aim of boosting the local economy before the end of December.
Taiwan launched its "Triple Stimulus Voucher" program in July, 2020 to help stimulate Taiwan's economy amid the COVID-19 pandemic. The program allows Taiwanese citizens as well as foreign spouses to purchase vouchers worth a total of NT$3,000 (US$101) for the price of NT$1,000. The total budget of Triple Stimulus Voucher is 50 billion NTD.
The vouchers, which expire on December 31 of this year can be spent on a variety of goods and services. These include purchases made via approved e-commerce platforms and bricks-and-mortar stores, as well as travel-related expenditures, taxi fares, train tickets and admission to art exhibitions and sporting activities.
A separate stimulus voucher program was launched by Council of Agriculture (COA) with a total of 5 million vouchers with the denominations of NT$250 (US$8.3).The goal of this stimulus program is to revitalizing Taiwan’s agriculture, forestry, fishery and animal husbandry industries. According to COA, the vouchers can be used for the admission at forestry recreation areas as well as select event tickets and purchases at approved shops/locations. Up to now more than 2,000 businesses have applied to be included on the list of authorized shop/locations.
Citizens are welcome to use COA’s vouchers and the Cabinet-issued Triple Stimulus Vouchers in tandem, with designated farmers’ associations, tea gardens and restaurants offering greater discounts when the benefits are combined. Together the stimulus programs are expected to generate revenue of more than NT$20 billion for agriculture-related sectors.