Net tax revenue for the first 10 months was NT$1.28 trillion (US$40 billion), representing a record drop of NT$255.6 billion, or 16.6 percent, year-on-year, tallies from the Ministry of Finance showed.
Taxes collected during the first 10 months represented just 71.8 percent of this year’s NT$1.78 trillion target, which was the lowest figure in years.
The ministry attributed the decrease mainly to a drop in business income tax resulting from the global financial crisis.
Among various categories, business income tax revenue fell NT$115.1 billion, or 26.5 percent year-on-year, to NT$318.8 billion in the first 10 months.
That was followed by a drop in personal income tax of NT$69.7 billion, or 20.2 percent; a drop in customs tariffs of NT$13.4 billion, or 19.6 percent; and a drop in land value increment tax of NT$7.4 billion, or 15 percent.
But securities transaction tax revenue rose NT$4.4 billion, or 5.4 percent, amid rising optimism concerning the outlook for local markets this year, the ministry said.
Commodity tax revenue has also improved in recent months. For the full 10-month period, it reported a slight dip of NT$5.2 billion, or 4.8 percent, to NT$103.1 billion.
The ministry said commodity tax revenue was NT$10.7 billion last month, marking the fifth straight month that the figure has topped NT$10 billion.
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