The nation’s tax revenues last month grew 9 percent from a year earlier to NT$14.64 billion (US$4.52 million), representing the first year-on-year increase in nine months, the Ministry of Finance said yesterday.
With the nation gradually emerging from the economic slump, several categories of taxation revenues have recorded a year-on-year increase, the ministry’s statement said.
“Business income taxes, for instance, increased NT$800 million, or 19.3 percent, from the same period last year to NT$46.5 billion,” Lin Lee-jen (林麗貞), head of the ministry’s statistics department, said at a press briefing.
In addition, revenues from commodity taxes have exceeded NT$10 billion for the sixth consecutive month and reached NT$11.4 billion last month, while land-value incremental tax revenues grew NT$1.8 billion, or 63.4 percent, year-on-year to NT$4.71 billion last month, the report said.
Still, the government is expected to face a record shortfall in tax revenues for the full year of more than NT$260 billion, Lin said.
“For the January to November period, total tax revenues fell short of NT$229.4 billion,” she said.
Securities transactions tax revenues for the January to November period increased 10.2 percent year on year, the report said.
Business and land taxes between July and last month increased NT$22.2 billion and NT$1.7 billion respectively, compared with the first half of the year.
Because of the global financial crisis, individual income tax revenues fell 34 percent to NT$14.92 billion last month from the same period last year, Lin said.
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
DOMESTIC SUPPLY: The probe comes as Donald Trump has called for the repeal of the US$52.7 billion CHIPS and Science Act, which the US Congress passed in 2022 The Office of the US Trade Representative is to hold a hearing tomorrow into older Chinese-made “legacy” semiconductors that could heap more US tariffs on chips from China that power everyday goods from cars to washing machines to telecoms equipment. The probe, which began during former US president Joe Biden’s tenure in December last year, aims to protect US and other semiconductor producers from China’s massive state-driven buildup of domestic chip supply. A 50 percent US tariff on Chinese semiconductors began on Jan. 1. Legacy chips use older manufacturing processes introduced more than a decade ago and are often far simpler than
STILL HOPEFUL: Delayed payment of NT$5.35 billion from an Indian server client sent its earnings plunging last year, but the firm expects a gradual pickup ahead Asustek Computer Inc (華碩), the world’s No. 5 PC vendor, yesterday reported an 87 percent slump in net profit for last year, dragged by a massive overdue payment from an Indian cloud service provider. The Indian customer has delayed payment totaling NT$5.35 billion (US$162.7 million), Asustek chief financial officer Nick Wu (吳長榮) told an online earnings conference. Asustek shipped servers to India between April and June last year. The customer told Asustek that it is launching multiple fundraising projects and expected to repay the debt in the short term, Wu said. The Indian customer accounted for less than 10 percent to Asustek’s
Gasoline and diesel prices this week are to decrease NT$0.5 and NT$1 per liter respectively as international crude prices continued to fall last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.2, NT$30.7 and NT$32.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$27.9 per liter at CPC stations and NT$27.7 at Formosa pumps, the companies said in separate statements. Global crude oil prices dropped last week after the eight OPEC+ members said they would
RSS