The economic downturn continued to sap the national treasury, the Ministry of Finance said yesterday, with tax revenues dropping NT$26.7 billion (US$787 million), or 21.3 percent, to NT$98.7 billion last month from a year earlier.
The contraction cut across almost all taxes, led by a fall in the income levy of NT$8.2 billion, or 30.4 percent, to NT$18.7 billion from the same period last year, the ministry’s monthly report showed.
Business tax decreased NT$6.4 billion, or 14.4 percent, to NT$38 billion, while securities transaction tax declined NT$3.6 billion, or 32.3 percent, to NT$7.5 billion, the report said.
Lin Lee-jen (林麗貞), head of the ministry’s statistics department, said it was natural for tax revenues to drop when economic activity is weak.
However, Lin said securities transactions tax for the first quarter amounted to NT$14.7 billion, up 11 percent, or NT$1.5 billion, from the fourth quarter, a sign that the impact of the downturn on the local bourse had been alleviated.
Capital gains tax on rising land value dropped 29.5 percent, or NT$1.5 billion, to NT$3.7 billion on a sluggish property market, although the number of transactions picked up significantly last month, Lin said.
The number of property deals hit 36,383 last month, compared with 28,403 in February and 26,490 in January, the report said.
Altogether, the state coffers collected NT$245.3 billion in tax in the first three months, a decline of NT$58.6 billion, or 19.3 percent, from a year earlier.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”