The national treasury collected NT$293.2 billion (US$9.37 billion) in tax revenue last month, up 5.7 percent from a year earlier as gains in corporate and individual income taxes more than compensated for losses in securities transaction and land gain taxes, the Ministry of Finance said yesterday.
Business income taxes rose 15.2 percent year-on-year to NT$77.6 billion last month, while personal income taxes grew 16.5 percent to NT$44.5 billion, the ministry’s monthly report showed.
The ministry attributed the increase to better earnings results on the part of companies and wage gains for their employees last year. Both companies and individuals have to pay income taxes in May for earnings from the previous year.
Business taxes reached NT$61.1 billion last month, representing a 3.7 percent pickup from a year earlier on the back of active domestic demand even though cheaper oil prices dampened import costs, the report said.
However, taxes from land transaction gains contracted 20.8 percent annually to NT$7.5 billion last month, due to sluggish trading, the report said.
All real-estate property deals are subject to land taxes upon transactions if their land value increased from previous deals.
The number of property deals dropped 14.4 percent to 55,547 last month, down 14.4 percent from a year earlier, the report said.
Securities transaction taxes also fell 5.9 percent to NT$7 billion last month, as average daily turnovers showed a modest decline from the year-ago levels, the report said.
For the first five months of the year, cumulative tax revenue picked up 5.8 percent to NT$749.2 billion, which is the highest level for the January-to-May period in decades, the report said.
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,
‘SWARM TECH’: Joint venture FARobot is to develop autonomous mobile robots that would first be deployed in Hon Hai’s factories to optimize production efficiency Hon Hai Precision Industry Co (鴻海精密) and Adlink Technology Inc (凌華科技) have formed a robotic venture that aims to use “swarm technology” to create robots that can communicate with one another on the factory floor to optimize production efficiency. Hon Hai is Apple Inc’s leading iPhone assembler and the world’s largest contract electronics maker, while Adlink supplies industrial computers and Internet of Things solutions. Through a subsidiary, Hyield Venture Capital Co (鴻揚創投), Hon Hai holds a 51 percent stake in autonomous mobile robot (AMR) developer FARobot (法博智能移動), while Adlink owns the remaining 49 percent. Together, the two companies put up NT$200