The government last month collected NT$220.2 billion (US$7.44 billion) in tax revenue, down NT$261.1 billion, or 54.3 percent, from a year earlier, Ministry of Finance data showed.
The biggest decrease was in personal income tax revenue, which fell by NT$180.5 billion year-on-year, or 97.9 percent, to NT$3.9 billion, as the government extended the tax filing deadline from the end of May to the end of last month due to the COVID-19 pandemic, which led to part of the tax revenue not being recorded, although the first batch of tax refunds was already booked, the ministry said in a statement on Thursday.
For the same reason, corporate income tax revenue also dropped by NT$85.9 billion, or 39 percent, to NT$134.1 billion, the ministry said.
Business tax revenue decreased by NT$5.2 billion and commodity tax revenue declined by NT$1.2 billion from a year earlier, but securities transaction tax revenue increased by NT$6.4 billion, as local equity markets’ average daily turnover was higher than a year earlier, it said.
In the first six months of the year, cumulative tax revenue fell by NT$397.6 billion, or 29.1 percent, to NT$968.1 billion compared with the same period last year, ministry data showed.
The January-to-June figure accounted for 72.2 percent of the government’s target for the first six months of this year, as increases in revenues from securities transactions and business taxes were offset by decreases in revenues from corporate income, individual income, house and commodity taxes, the ministry said.
Tax revenue from securities transactions in the first six months rose by NT$19.9 billion, or 48.3 percent, year-on-year to NT$61 billion as the daily trading turnover on the local bourse averaged NT$200.3 billion over the period, up from NT$133.1 billion a year earlier, ministry data showed.
Business tax revenue totaled NT$201.6 billion in the first six months, up NT$7.1 billion, or 3.7 percent, from a year earlier, while revenue from land value increment tax increased by NT$1.2 billion, or 2.4 percent, to NT$49.9 billion, the data showed.
However, corporate income tax revenue fell by NT$243.3 billion, individual income tax revenue decreased by NT$174.5 billion, commodity tax revenue declined by NT$5 billion and house tax revenue dropped by NT$4.8 billion, it showed.
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
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
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