Net tax revenues increase by 8.2% over last year

Net tax revenue for the first eight months reached NT$1.17 trillion (US$35.22 billion), an increase of NT$89 billion or 8.2 percent from the same period last year, a financial official said yesterday.

Of the increased figure, income tax saw an increase of NT$55.3 billion, securities transaction tax increased NT$28.1 billion, land value increment tax gained NT$4.1 billion and business tax increased NT$4 billion, while commodity tax decreased NT$5.7 billion and estate and gift taxes slid NT$2.6 billion.

PROJECTIONS

Lee Li-shu (李麗雪), the director-general of the Department of Statistics under the Ministry of Finance, said tax revenue for the first eight months has already reached 72.4 percent of the expected amount for the whole year, which has been projected at NT$1.61 trillion.

An extra NT$60 billion above the projected amount is expected this year, she said.

Net tax revenue for last month reached NT$98 billion, up 13.3 percent or NT$11.5 billion from last year's August figure, Lee said.

INCREASES

Of the total figure, securities transaction tax revenue reached NT$14.9 billion, an increase of NT$8.5 billion over last year, with an annual growth rate of 134.1 percent.

Commodity tax hit NT$16.1 billion, increasing NT$2.9 billion from the figure from last August, with an annual growth rate of 21.8 percent, Lee said.

Meanwhile, income tax decreased NT$1.5 billion and estate and gift tax slid NT$800 million from last August, she said.