Tax revenue last month contributed NT$103.1 billion (US$3.4 billion) to the nation’s coffers, an increase of 3 percent from a year earlier, thanks to increases in inheritance and gift taxes, the Ministry of Finance said on Tuesday.
The ministry attributed the modest gain to record-high growth in inheritance and gift taxes, which are to rise from a flat 10 percent to a progressive scheme of up to 20 percent.
Income from cigarette taxes surged to their highest level in five years, as vendors stocked up on inventory in anticipation of a tax hike that would raise the retail price of cigarettes by about NT$20 per pack, the ministry added.
Securities transaction tax income rose to NT$6.3 billion, as turnover grew from a year earlier, the ministry said.
In the first four months of this year, tax revenue totaled NT$450.2 billion, an increase of 1 percent from the same period last year, it added.
The figure indicates that the ministry has met 20.9 percent of this year’s annual target.
An increase of activity on the local bourse has lent support, with average turnover growing to NT$111.2 billion in the first four months, compared with NT$92.1 billion in the same period last year, the ministry said.
Securities tax income has met 25 percent of the annual target, outpacing other taxes, it added.
The national treasury is to receive a boost this month and next month, when people declare personal income earned last year, the ministry said.
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
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained