The nation’s tax revenue last month increased 13.1 percent from a year earlier to NT$302 billion (US$10.73 billion), as personal income benefited from dividend payments, but gains on securities transactions contracted amid ebbing investment interest, the Ministry of Finance said yesterday.
Personal income tax soared 40 percent year-on-year to NT$12.4 billion, supported by dividend distributions and the absence of tax returns, Department of Statistics Deputy Director-General Chen Yu-feng (陳玉豐) told a news conference in Taipei.
Corporate income tax gained 20.5 percent to NT$105.4 billion, while business tax grew 5.4 percent to NT$84.8 billion, signs that economic activity picked up following a local outbreak of COVID-19 infections, the ministry said.
Photo: Clare Cheng, Taipei Times
Sales tax increased 2.7 percent to NT$14.5 billion, as vehicles sales recovered momentum, although people consumed less fuel due to disease prevention measures, it said.
Securities transaction tax grew 28.5 percent to NT$17.8 billion, as average daily turnover on the Taiwan Stock Exchange increased 58.33 percent year-on-year to NT$365.6 billion, it added.
However, trading volume posted a 27.2 percent retreat from one month earlier to the lowest mark this year, Chen said.
Foreign investors have cut their holdings in local shares and funds have flowed to the US market on the expectation that the US Federal Reserve would soon taper its bond purchases to pave the way for interest rate hikes amid inflationary pressures.
Trading in the shares of shipping companies and steelmakers dampened significantly, Chen said.
Heavyweight technology shares also took a hit amid the global fund flows, Taiwan Stock Exchange data showed.
Land value increment tax tumbled 33.5 percent to NT$7.1 billion, after taxable deals shrank 21.3 percent year-on-year, the ministry said.
In the first nine months of the year, tax revenue logged a 22 percent gain to NT$2.24 trillion, ahead of the budget schedule this year by 19.5 percent, it said.
SEMICONDUCTOR SERVICES: A company executive said that Taiwanese firms must think about how to participate in global supply chains and lift their competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it expects to launch its first multifunctional service center in Pingtung County in the middle of 2027, in a bid to foster a resilient high-tech facility construction ecosystem. TSMC broached the idea of creating a center two or three years ago when it started building new manufacturing capacity in the US and Japan, the company said. The center, dubbed an “ecosystem park,” would assist local manufacturing facility construction partners to upgrade their capabilities and secure more deals from other global chipmakers such as Intel Corp, Micron Technology Inc and Infineon Technologies AG, TSMC said. It
EXPORT GROWTH: The AI boom has shortened chip cycles to just one year, putting pressure on chipmakers to accelerate development and expand packaging capacity Developing a localized supply chain for advanced packaging equipment is critical for keeping pace with customers’ increasingly shrinking time-to-market cycles for new artificial intelligence (AI) chips, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said yesterday. Spurred on by the AI revolution, customers are accelerating product upgrades to nearly every year, compared with the two to three-year development cadence in the past, TSMC vice president of advanced packaging technology and service Jun He (何軍) said at a 3D IC Global Summit organized by SEMI in Taipei. These shortened cycles put heavy pressure on chipmakers, as the entire process — from chip design to mass
People walk past advertising for a Syensqo chip at the Semicon Taiwan exhibition in Taipei yesterday.
NO BREAKTHROUGH? More substantial ‘deliverables,’ such as tariff reductions, would likely be saved for a meeting between Trump and Xi later this year, a trade expert said China launched two probes targeting the US semiconductor sector on Saturday ahead of talks between the two nations in Spain this week on trade, national security and the ownership of social media platform TikTok. China’s Ministry of Commerce announced an anti-dumping investigation into certain analog integrated circuits (ICs) imported from the US. The investigation is to target some commodity interface ICs and gate driver ICs, which are commonly made by US companies such as Texas Instruments Inc and ON Semiconductor Corp. The ministry also announced an anti-discrimination probe into US measures against China’s chip sector. US measures such as export curbs and tariffs
RSS