Thu, Aug 09, 2007 - Page 11 News List

Business Briefs


Treasury collects record taxes

The nation's treasury took in NT$109.5 billion (US$3.3 billion) in taxes last month, up by 17.1 percent from a year ago, the Ministry of Finance said yesterday.

The biggest increase came from securities transaction tax revenues, which skyrocketed by NT$13.4 billion, or 232 percent, from the same period last year to NT$19.1 billion, setting a new record in the ministry's history, said Lee Li-shu (李麗雪), director of the statistics department.

This is a result of heated trans-actions in the local bourse, driven by international capital inflow and the government's beneficial policies, she said.

Income from value-added tax rose by 9.9 percent to NT$47.2 billion, while income tax shrank by 95.2 percent to NT$100 million due to increasing tax rebates.

For the first seven months of the year, tax revenues totaled NT$1.07 trillion, up by 7.8 percent year-on-year, the data showed. The figure accounted for 66.3 percent of the government target.

UMC sales up last month

United Microelectronics Corp (UMC, 聯電) said yesterday sales rose 14.86 percent to NT$10.05 billion (US$303 million) last month from NT$8.75 billion in June and up 9.24 percent year-on-year.

Sales for the first seven months of the year amounted to NT$58.17 billion, down 1.96 percent from the year-earlier period, said the world's second-largest wafer foundry.

Stopping short of directly forecasting sales for the third quarter to September, UMC said at an Aug. 1 investor conference that wafer shipments are expected to rise by 20 percent in the current quarter from the second.

The company also expects its third-quarter average selling price to remain flat in US dollar terms.

Chi Mei sales double

Chi Mei Optoelectronics Corp (奇美電子), the nation's second-largest liquid-crystal-display maker, said that sales last month more than doubled.

Revenue, excluding sales from affiliates, rose to NT$25.5 billion (US$775 million), the Tainan-based company said in a stock-exchange filing yesterday. Chi Mei reported sales of NT$11.6 billion last year.

The company posted sales of NT$22.3 billion in June.

CLA to promote internships

Taiwan plans to spend NT$259 million (US$7.9 million) to raise employment prospects for those suffering the nation's highest jobless rate, people aged from 15 to 24.

The Council of Labor Affairs will work with 1,424 companies to provide six-month internships to 15,000 people in the age group to "prepare them for the job market" and "remove obstacles preventing them from finding jobs," an e-mail statement quoted Premier Chang Chun-hsiung (張俊雄) as saying.

The 15-to-24 age group's jobless rate is 2.6 times the nation's average, according to the statement. The unemployment rate dropped to 3.90 percent in June from 3.95 percent in May, seasonally adjusted, the government's statistics bureau said on July 23.

Ten-year bonds fall

Taiwan's 10-year government bonds fell on speculation that a central bank sale of short-term debt tomorrow will push up money market rates. The currency was little changed.

The central bank will auction NT$100 billion (US$3 billion) in 364-day certificates of deposit, the first sale of the securities since July 20, when it issued debt at an average rate of 2.526 percent. Sales of the certificates drain funds from the banking system and may help increase money market rates.

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