Taiwan is making history by sending out a one-time universal cash payment of NT$6,000 to every citizen “young and old.” This is the first time the country has implemented such a policy, and it comes as a result of excess tax revenue of NT$450 billion, much of which is coming from corporate taxes that have seen record-high profits. The NT$140 billion will be dedicated to the cash payments, with the remainder going towards improving labor and health insurance systems and providing funding for local governments.
UBI Taiwan hailed the move as a victory for Taiwanese citizens, as the payment is unconditional and universal, meaning that everyone in the country will receive it, regardless of income or other circumstances. They said it reflects the growing demand that a greater proportion of Taiwan’s growth is shared with average families.
