The government is optimistic that national tax revenue may achieve its target of NT$1.866 trillion (US$61.93 billion) this year, after tax revenue in the first quarter hit its highest level since 2000.
Tax revenue surged 7.3 percent from a year earlier to NT$334.1 billion in the first three months of the year, after last month’s revenue increased 10.6 percent year-on-year to NT$139.4 billion, the Ministry of Finance said yesterday.
Tax revenue in the first three months was 3 percent higher than a government target, the report said.
Strong revenue from consolidated income tax, which surged 8 percent from a year earlier to NT$73.9 billion in the first quarter, reached its highest level for the period since 2000, Statistics Department Deputy Director Hsu Ray-lin (許瑞琳) told a press conference.
“We remain upbeat that annual tax revenue may reach the goal set by the government,” Hsu said.
Tax revenue from securities transactions totaled NT$20.7 billion in the first three months, up 31.3 percent from a year earlier, thanks to a rebound in stock market turnover, Hsu added.
Business tax revenue reached its highest level for the period ever in the first three months, up 4.7 percent from a year ago to NT$97.6 billion, data showed.
Revenue from the land value increment tax climbed 11.6 percent to NT$27.9 billion in the first three months from a year ago, but Hsu said the annual growth would slow this year with signs of a soft landing for the housing market.