Wed, Mar 12, 2014 - Page 13 News List

National tax revenue soars

By Amy Su  /  Staff reporter

National tax revenue in the first two months of the year marked the highest level since 2000, as improving sentiment in the nation’s economy helped drive up revenue from consolidated income tax and securities transaction tax, the Ministry of Finance said yesterday.

The nation’s tax revenue surged 5 percent from a year earlier to NT$194.7 billion (US$6.42 billion) last month, driven by a total of NT$68.3 billion in tax revenue generated last month — an increase of 4.9 percent from the same period last year — the ministry said in its monthly report.

Strong revenue performances from the consolidated income tax, which rose 10.9 percent from a year earlier to NT$50.5 billion in the first two months, helped raise overall revenue during the period, the ministry’s Statistics Department Deputy Director Hsu Ray-lin (許瑞琳) told a press conference.

In addition, securities transaction tax revenue totaled NT$12.3 billion in the first two months, up 27.5 percent from a year earlier, thanks to a rebound in stock market turnover, Hsu added.

The average daily turnover of the main bourse and the over-the-counter market rose to NT$89.2 billion and NT$28.6 billion respectively last month, from NT$78.6 billion and NT$15.2 billion the prior year, the report said.

Revenue from land value increment taxes, which showed a strong performance last year, climbed 13 percent to NT$18.3 billion in the first two months from a year ago, data showed.

However, the annual rise of 13 percent recorded in the first two months has been slower than the level of 51 percent recorded a year earlier, an indication of a milder pace in the nation’s property market.

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