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Tax revenues jump 22 percent in March

Tax revenues last month surged 21.8 percent from a year ago to NT$149.5 billion (US$4.5 billion), statistics released by the Ministry of Finance yesterday showed.

The biggest increase came from income tax revenues, which jumped 47 percent, or NT$11.1 billion, to NT$34.8 billion. Income tax revenues got a boost from collection of taxes on year-end bonuses and a low business income tax base because of huge tax rebates in March last year, said Lee Li-shu (李麗雪), director of the ministry's statistics department, during a press conference.

Land value incremental tax revenues rose 38.6 percent, the highest since April 2005, to NT$8.2 billion on the back of steady growth in the real estate sector.

Tax revenues from securities transaction totaled NT$10.1 billion, up 32.2 percent from a year ago, as the local stock market followed international bourses' advance, leading to increased turnover.

Inheritance and gift taxes were down 15.7 percent to NT$2 billion last month.

Cumulative tax revenues during the first quarter totaled NT$292.6 billion, down 2.2 percent from a year ago, the figures showed.

Commodity tax revenues dropped 14 percent to NT$35.4 billion, and value-added tax revenues shrank 5.4 percent to NT$73.9 billion.
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