Fri, Mar 11, 2011 - Page 12 News List

Tax revenues up 4.1% from last year

By Amy Su  /  Staff Reporter

Tax revenues increased 4.1 percent from a year earlier to NT$56.6 billion (US$1.92 billion) last month, the Ministry of Finance said yesterday.

“The pickup in commodity tax, income tax and securities exchange tax led to the growth of tax revenues last month,” said Lin Lee-jen (林麗貞), head of the ministry’s statistics department.

Revenues from the commodity tax totaled NT$15.9 billion, up 80.6 percent year-on-year as the auto market showed more sales during the Lunar New Year holiday, the ministry’s statement showed.

Income tax revenue amounted to NT$25.3 billion last month, up 21.3 percent from a year ago, while tax revenues from securities exchanges were NT$6.5 billion, up 27.5 percent over the same period, statistics showed.

In the first two months, the government collected a total of NT$171.9 billion in tax revenues, which represented an increase of 2.5 percent from a year earlier and accounted for 95.2 percent of the government’s budget goal, data showed.

Lin was optimistic about this year’s tax revenues, saying the circumstances were much better than last year. However, she refused to comment on whether the ministry would be able to finance pay raises for civil servants.

In January, the ministry said in a report that it was targeting revenues of NT$1.62 trillion for this year after reporting NT$1.56 trillion for last year.

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