Sat, Jun 02, 2007 - Page 12 News List

94 percent of taxpayers meet deadline

By Jackie Lin  /  STAFF REPORTER

More than 4.87 million taxpayers had completed their dreaded annual chore by Thursday, the last day for filing tax reports for last year, the Ministry of Finance said yesterday.

That represented around 94 percent of the nation's 5.2 million taxpayers filing singly and jointly.

Online tax-filing increased 10 percent from last year to 2.46 million, accounting for 51 percent of those who have declared their tax returns, statistics provided by the Taxation Agency showed.

The agency estimated revenues from personal income tax would reach NT$100 billion (US$3 billion).

Procrastinating taxpayers were still immune to fines if they paid visits to local tax offices to file tax returns yesterday. Starting on Monday, they will be levied an overdue fine of 1 percent of their calculated tax payment for every two days delay.

Interest will be added after 30 days of delay, the agency said.

More than 725,600 tax reports were filed by the deadline for business income tax filing, with 97.44 percent completed via the Internet.

Tax revenues were NT$192 billion, up 37 percent from last year.

This year also marks the first-time the Alternative Minimum Tax (AMT) -- approved by the legislature in 2005 -- has been applied.

By Thursday, the government had received 1,944 AMT applications for personal income tax, with revenues expected to surpass NT$4 billion.

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