The nation’s tax revenue last year hit a record high, although the figure for last month fell 2.6 percent from a year earlier, preliminary statistics released yesterday by the Ministry of Finance showed.
Total tax revenue was NT$2.45 trillion (US$81.61 billion) last year, up NT$62.8 billion, or 2.6 percent, from 2018, the ministry said in a statement posted on its Web site.
Last year’s growth followed a 6 percent increase the previous year, ministry data showed.
The ministry attributed the growth mainly to increases in corporate income and land value increment taxes, as well as estate and gift taxes.
Corporate income tax brought in revenue of NT$645.31 billion, up NT$77.36 billion, or 13.6 percent, from 2018.
Land value increment tax revenue rose NT$10.59 billion, or 11.7 percent, to NT$101.14 billion, while revenue from estate and gift taxes rose by NT$2.76 billion, or 8.7 percent, to NT$34.58 billion, the ministry said.
However, revenue from individual income tax fell NT$11.42 billion, or 2.2 percent, year-on-year, while tobacco and alcohol tax revenue fell NT$1.61 billion, or 2.3 percent.
Revenue from the business tax fell NT$6.26 billion, or 1.5 percent, from a year earlier.
Revenue from the securities transaction tax dropped by 9.9 percent to NT$91.17 billion last year, as average daily turnover on the Taiwan Stock Exchange and the Taipei Exchange fell from NT$152.9 billion in 2018 to NT$140.8 billion.
Overall, total tax revenue last year was NT$62.1 billion more than the government’s target, the ministry said.
The ministry is to provide more accurate statistics next month, as the preliminary data do not include tax revenue collected by other government agencies.
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