Sat, Oct 14, 2017 - Page 12 News List

September revenue from taxes tops NT$280.5bn: MOF

By Crystal Hsu  /  Staff reporter

Tax revenues totaled NT$280.5 billion (US$9.29 billion) last month, an increase of 19.9 percent over September last year, as an improving economy galvanized business activity and stock transactions, the Ministry of Finance (MOF) said yesterday.

The national treasury collected NT$38.3 billion in revenue from corporate income tax last month, a jump of 52.1 percent over September last year, as companies in most sectors reported better earnings this year, Department of Statistics Deputy Director-General Chen Yu-feng (陳玉豐) told a media briefing.

Similarly, business tax revenue rose 9.7 percent to NT$73.3 billion, the ministry’s monthly report showed.

A stable economic recovery has helped to boost personal income tax revenue, which amounted to NT$39.2 billion, a modest 2 percent advance over a year earlier, the ministry’s report showed.

Tax revenue from securities transactions emerged as the biggest beneficiary with a 78 percent year-on-year pickup to NT$9.5 billion, the highest since August 2014, Chen said.

Daily trading turnover on the local bourse averaged NT$152.3 billion last month, almost double the NT$88 billion a year earlier, Chen said.

By contrast, inheritance tax revenue declined 13.3 percent to NT$2.1 billion, it said, as people have generally adopted asset allocation plans.

In the first nine months of the year, the national coffers gathered NT$1.78 trillion in tax revenue, a 4.7 percent gain from a year earlier and beating the budget target by 8 percent, Chen said.

The ministry said it is confident that the full-year figures would exceed the budget set for this year.

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