Tax revenues rose more than expected in the first half of the year, providing more evidence that full-year revenues could achieve the government’s goal of NT$1.695 trillion (US$56.76 billion), the Ministry of Finance said yesterday.
Last month’s tax revenues increased 33.5 percent from a year earlier to NT$282.2 billion, bringing revenues for the first six months to NT$997.4 billion, up 11 percent year-on-year, the ministry’s data showed.
“The ministry feels optimistic that full-year tax revenues may reach the target figures, as revenues from all types of taxes showed steady growth in the first half,” Hsu Ray-lin (許瑞琳), deputy director of the ministry’s statistics department, told a media briefing.
Hsu attributed the growth in tax revenues in the first half of this year to a pickup in business sales tax, corporate income tax, personal income tax and commodity tax.
Business sales tax revenue hit NT$134.4 billion in the first half, up 8 percent from a year earlier, amid strong imports and private consumption, the ministry said in a statement.
Revenues from the selective goods and services sales tax, also known as the luxury tax, were not included in last month’s tax data. Hsu said the ministry viewed the luxury tax as a kind of temporary levy, and so calculated it separately.
“The luxury tax will be put on the list after the ministry clarifies measures to manage and utilize these revenues, and its budget allotment method,” he added.
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