Taiwan's Executive Yuan has approved draft legislation for an extension of the reduced Securities Transaction Tax for day trading on the Taiwan securities market. The tax was reduced from 0.3% to 0.15% in April 2017 for a period of one year in order to support the market by promoting liquidity and trade volume and was subsequently extended an additional three years in April 2018. The draft legislation approved by the Executive Yuan would provide for a further three-year extension to 31 December 2024.