The nation’s tax revenue last month grew 4.7 percent year-on-year to NT$154.3 billion (US$5 billion), thanks to increases in individual income tax, corporate income tax, and tobacco and alcohol taxes, the Ministry of Finance reported yesterday.
Individual income tax brought in revenue of NT$24.4 billion, up NT$5 billion from a year earlier, while corporate income tax revenue increased by NT$3.6 billion. Revenue from tobacco and alcohol taxes rose by NT$900 million, the ministry said in a report.
However, securities transaction tax revenue declined by NT$3.3 billion as average daily turnover on the Taiwan Stock Exchange fell from NT$167.7 billion to NT$110.7 billion, while revenue from commodity taxes fell by NT$1.2 billion, the report said.
The ministry also revised its tax revenue data for the whole of last year, which hit a new record at NT$2.39 trillion, up 6 percent from 2017.
That compared with preliminary data the ministry released last month that came in at NT$2.37 trillion, up 5.1 percent from a year earlier.
The ministry attributed the discrepancy to about NT$19.8 billion in extra revenue collected from the individual income tax, corporate income tax and business taxes last month, the report said.
Overall, last year’s total tax revenue was NT$89.7 billion higher than the ministry’s target, the report said.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
FUTURE PLANS: Although the electric vehicle market is getting more competitive, Hon Hai would stick to its goal of seizing a 5 percent share globally, Young Liu said Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler and supplier of artificial intelligence (AI) servers powered by Nvidia Corp’s chips, yesterday said it has introduced a rotating chief executive structure as part of the company’s efforts to cultivate future leaders and to enhance corporate governance. The 50-year-old contract electronics maker reported sizable revenue of NT$6.16 trillion (US$189.67 billion) last year. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), has been under the control of one man almost since its inception. A rotating CEO system is a rarity among Taiwanese businesses. Hon Hai has given leaders of the company’s six