The government last month collected NT$202.7 billion (US$6.97 billion) in tax revenue, up NT$1.8 billion, or 0.9 percent, from a year earlier, Ministry of Finance data showed yesterday.
The biggest increase was in business tax revenue, which rose by NT$5.4 billion, or 6.2 percent, to NT$92.6 billion, thanks to rising tax income from imported electronic components, information technology and audio-video products, as well as base metal and related finished products, the ministry said in a statement.
Other major increases in tax revenue last month came from corporate income tax, which increased by NT$2.3 billion, or 61 percent, to NT$6.1 billion, and in land value increment tax, which climbed by NT$1 billion, or 9.8 percent, to NT$10.7 9 billion, the ministry said.
Photo: Clare Cheng, Taipei Times
However, personal income tax revenue decreased by NT$5 billion, or 16 percent, from a year earlier due to differences in the time of withholding tax on year-end bonuses.
Commodity tax revenue also declined by NT$2 billion, or 13.9 percent, from the previous year, as the government lowered imported duties on fuel products to curb inflation, the ministry said.
In the first three months of the year, cumulative tax revenue rose by NT$15.5 billion, or 3.3 percent, to a record NT$482.7 billion compared with the same period last year, ministry data showed.
The January-to-March figure accounted for only 17.7 percent of the government’s target for the full year, as increases in revenues from individual income, corporate income and business taxes were offset by decreases in revenues from commodity and securities transaction taxes, the ministry said.
Individual income tax revenue increased by NT$13.6 billion, corporate income tax revenue grew by NT$7.9 billion and business tax revenue rose by NT$5.3 billion in the first three months, while commodity tax revenue declined by NT$7.7 billion over the same period, ministry data showed.
Tax revenue from securities transactions in the first three months fell by NT$5.7 billion, or 10.2 percent, to NT$50.2 billion, as the daily trading turnover on the local bourse averaged NT$363 billion, down from NT$400.7 billion a year earlier, ministry data showed.
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