Taiwan’s securities transaction tax continued to post lower-than-expected revenue for last month, with January-to-July revenue from the tax marking the lowest level during the same period in seven years, the Ministry of Finance said yesterday.
This showed the securities transaction tax is unlikely to reach its budgeted allocation of NT$126.5 billion (US$4.23 billion) this year, a ministry official said.
Revenue from the securities transaction tax dropped to the lowest level since the same period in 2005, totaling only NT$43.2 billion in the first seven months, down 24.6 percent from the same period the previous year, the ministry said in its monthly report.
“The global economic uncertainties and the issue of a securities capital gains tax dragged down revenue from the securities transaction tax for this year,” Hsu Ray-lin (許瑞琳), deputy director of the ministry’s statistics department, told a press conference.
The trend of falling securities transaction tax revenue was different from that of other major tax revenues, as revenues from individual income tax and business taxes in the first seven months were at their highest levels in history.
Despite the slowing domestic economy this year, Hsu said the strong business tax revenue came from the nation’s growing economic scale, while the individual income tax revenue was a lagging indicator reflecting last year’s better sentiment.
Overall tax revenues increased 26.5 percent from a year earlier to NT$88.4 billion, with total tax revenues for the first seven months reaching NT$1.334 trillion, up 6.2 percent year-on-year, the highest level ever, ministry data showed.
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
FUTURE PLANS: Although the electric vehicle market is getting more competitive, Hon Hai would stick to its goal of seizing a 5 percent share globally, Young Liu said Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler and supplier of artificial intelligence (AI) servers powered by Nvidia Corp’s chips, yesterday said it has introduced a rotating chief executive structure as part of the company’s efforts to cultivate future leaders and to enhance corporate governance. The 50-year-old contract electronics maker reported sizable revenue of NT$6.16 trillion (US$189.67 billion) last year. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), has been under the control of one man almost since its inception. A rotating CEO system is a rarity among Taiwanese businesses. Hon Hai has given leaders of the company’s six