Monday, July 9, 2007
Rexchip Electronics Corp, a 50-50 joint venture between Powerchip Semiconductor Corp (5346.TW) and Japan's Elpida Memory Inc, will be granted a five-year tax break and other concessions, the Commercial Times reported, citing a Ministry of Economic Affairs (MoEA) official.
Rexchip, which makes dynamic random access memory chips, will be allowed to take over benefits previously accorded to Powerchip, as its production will draw on assets and equipment provided by the parent company, the official said.
The MoEA and the Ministry of Finance are working out the details of tax incentives for businesses involved in M&A deals or spinoffs and Rexchip is expected to be the first to emerge with a completed package, he added.
By: DocMemory
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