The national treasury last month collected NT$132.7 billion (US$4.75 billion) in tax revenue, an increase of 11.4 percent from a year earlier, bolstered mainly by sharp increases in securities and property transactions, the Ministry of Finance said yesterday.
Securities transactions generated a record NT$24.4 billion in tax revenue, rising 1.6 times from a year earlier, as daily turnover on the Taiwan Stock Exchange and the Taipei Exchange expanded almost threefold to a new high of NT$526.9 billion, Department of Statistics Deputy Director-General Chen Yu-feng (陳玉豐) told a news conference in Taipei.
Securities transaction tax revenue has increased for 19 consecutive months, the third-longest streak of gains, trailing only 21 months from 1996 to 1997 and 22 months from 1988 to 1990, Chen said.
Photo: CNA
The figure might climb higher this month based on daily trading volumes so far.
Market turnover yesterday surged to a record NT$714.835 billion, even though COVID-19 pandemic selloffs pushed the TAIEX down 652.48 points to 16,583.13.
For the first four months of this year, securities transaction tax revenue more than doubled from the same period last year to NT$80.4 billion, the ministry’s monthly report showed.
Land value increment tax revenue contributed NT$8.4 billion to the state chest, representing an annual increase of 12.1 percent, as the number of taxable cases swelled 23.6 percent to 57,510, it said.
A total of 226,643 deals subject to property gains taxes were recorded from January to last month, an increase of 21.1 percent from a year earlier, the ministry said.
Inheritance and gift tax revenue last month rose 63.6 percent to NT$3.9 billion, while sales tax revenue grew 11.5 percent to NT$16 billion, it said.
By contrast, personal income tax revenue shrank 2.4 percent to NT$28.6 billion, while corporate income tax revenue slid into negative territory due to tax returns, Chen said.
Tax revenue in the first four months of this year increased 15.5 percent year-on-year to NT$599.9 billion, beating the ministry’s forecast by 16.6 percent and covering 24.6 percent of the government budget for this year, the report said.
Shares in Taiwan closed at a new high yesterday, the first trading day of the new year, as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) continued to break records amid an artificial intelligence (AI) boom, dealers said. The TAIEX closed up 386.21 points, or 1.33 percent, at 29,349.81, with turnover totaling NT$648.844 billion (US$20.65 billion). “Judging from a stronger Taiwan dollar against the US dollar, I think foreign institutional investors returned from the holidays and brought funds into the local market,” Concord Securities Co (康和證券) analyst Kerry Huang (黃志祺) said. “Foreign investors just rebuilt their positions with TSMC as their top target,
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
H200 CHIPS: A source said that Nvidia has asked the Taiwanese company to begin production of additional chips and work is expected to start in the second quarter Nvidia Corp is scrambling to meet demand for its H200 artificial intelligence (AI) chips from Chinese technology companies and has approached contract manufacturer Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to ramp up production, sources said. Chinese technology companies have placed orders for more than 2 million H200 chips for this year, while Nvidia holds just 700,000 units in stock, two of the people said. The exact additional volume Nvidia intends to order from TSMC remains unclear, they said. A third source said that Nvidia has asked TSMC to begin production of the additional chips and work is expected to start in the second
US President Donald Trump on Friday blocked US photonics firm HieFo Corp’s US$3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore Corp, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the US president to believe that it might “take action that threatens to impair the national security of the United States.” The order did not name the person or detail Trump’s concerns. “The Transaction is hereby prohibited,”
RSS