The Ministry of Finance yesterday said that it collected NT$155 billion (US$5.15 billion) in taxes last month, a 0.4 percent increase from a year earlier, despite fewer working days.
A major technology firm changing its dividend payout policy and higher securities turnover boosted tax revenue, despite unfavorable seasonal factors, Department of Statistics Deputy Director-General Chen Yu-feng (陳玉豐) said.
Personal income taxes soared 27 percent year-on-year to NT$31.1 billion, while securities transaction taxes gained 9.4 percent to NT$7 billion, the ministry said in a monthly report.
Taiwan Semiconductor Manufacturing Co (台積電), the world’s largest contract chipmaker, last year distributed cash dividends on a quarterly basis rather than annually, which boosted the incomes of shareholders last month, Chen said.
Daily average stock turnover last month rose to NT$179.8 billion, increasing from NT$110.7 billion a year earlier on higher volatility as investors adjusted positions amid the 2019 novel coronavirus outbreak in China, Chen added.
However, the ministry reported a decline in taxes from commodity sales, foreign trade and property transactions, saying that fewer working days were to blame.
Land value increment taxes fell 32.8 percent annually to NT$6.9 billion, the ministry said.
The decline was caused by the number of taxable cases falling 27.9 percent year-on-year to 43,083, Chen said.
The ministry also revised up the tax revenue for last year to NT$2.47 trillion, up 3.5 percent from 2018 and beating the budget target by the same pace.
Deferred tax revenue of NT$20.8 billion for December last year underpinned the upward revision, the ministry said.
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