Tax revenues last month fell for the first time this year as the national treasury collected NT$193.1 billion (US$5.93 billion), a drop of 14.3 percent from the same period a year earlier, as an economic slowdown weighed on corporate and personal incomes, the Ministry of Finance said yesterday.
Corporate tax income slumped 38.4 percent year-on-year to NT$39.5 billion, while personal tax income dropped 5.6 percent to NT$38.9 billion, as companies and individuals reported less earnings amid a global slowdown, the ministry said.
“The slowdown is affecting tax revenues as evidenced by persistent falls in securities, property and car transactions,” a ministry official said.
New car licenses plunged 27.4 percent to 25,226 units last month, reducing commodity tax revenues on locally made cars by 15.8 percent year-on-year, the ministry’s report said.
However, commodity tax revenues on imported cars increased 13.8 percent from a year earlier, the ministry said, as a weak yen and euro continued to spur demand.
Securities transactions tax revenues lost an extra 4.1 percent last month to NT$6.2 billion from a year ago, reflecting a lack of confidence on the part of investors, the report said.
Revenue from property taxes fell 5.8 percent annually to NT$6.8 billion last month, while the number of deals dropped 2.3 percent, the report said.
Dutch brewing company Heineken NV yesterday said that it has reached an agreement to acquire a subsidiary brewery of Taiwan’s Sanyo Whisbih Group (三洋維士比集團). Heineken is to assume majority ownership and management rights of the Long Chuan Zuan Co (龍泉鑽興業) brewery in Pingtung County’s Neipu Township (內埔), the Dutch company said. It would become the first multinational brewing company to operate brewery in Taiwan once the acquisition is completed. The deal has been approved by the Ministry of Economic Affairs’ Investment Commission, but details of the financial transaction cannot be disclosed at this time, as terms of the settlement have not been completed,
Had Audrey Hepburn and Gregory Peck hopped on an electric scooter rather than a Vespa in the classic film Roman Holiday, their spin around the Eternal City might have ended in tears. The number of crashes and near-misses involving the two-wheelers has prompted Rome authorities to impose some order on a booming rental market that began two years ago. The havoc came to a head earlier this month when two US tourists attempted a night-time drive down the Spanish Steps, causing more than 25,000 euros (US$26,392) worth of damage to the 18th-century monument. Caught on security footage, the couple in their late 20s
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GREEN CITY: The company is set to invest US$8 billion to make electric vehicles and batteries for a new city that would rely entirely on renewable energy sources Indonesia said that Hon Hai Precision Industry Co (鴻海精密) is considering investing in the country’s new capital city, a move that would bolster the US$34 billion construction project. Hon Hai, which is known as Foxconn Technology Group (富士康科技集團), is looking at setting up an electric bus system and an Internet of Things network at Nusantara, as Indonesia’s new capital is to be called, Indonesian Minister of Investment Bahlil Lahadalia said in a statement yesterday. Hon Hai chairman Young Liu (劉揚偉) met with Indonesian President Joko Widodo on Saturday to discuss the company’s plan to invest US$8 billion to build a manufacturing plant
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