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.
PERSISTENT RUMORS: Nvidia’s CEO said the firm is not in talks to sell AI chips to China, but he would welcome a change in US policy barring the activity Nvidia Corp CEO Jensen Huang (黃仁勳) said his company is not in discussions to sell its Blackwell artificial intelligence (AI) chips to Chinese firms, waving off speculation it is trying to engineer a return to the world’s largest semiconductor market. Huang, who arrived in Taiwan yesterday ahead of meetings with longtime partner Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), took the opportunity to clarify recent comments about the US-China AI race. The Nvidia head caused a stir in an interview this week with the Financial Times, in which he was quoted as saying “China will win” the AI race. Huang yesterday said
Japanese technology giant Softbank Group Corp said Tuesday it has sold its stake in Nvidia Corp, raising US$5.8 billion to pour into other investments. It also reported its profit nearly tripled in the first half of this fiscal year from a year earlier. Tokyo-based Softbank said it sold the stake in Silicon Vally-based Nvidia last month, a move that reflects its shift in focus to OpenAI, owner of the artificial intelligence (AI) chatbot ChatGPT. Softbank reported its profit in the April-to-September period soared to about 2.5 trillion yen (about US$13 billion). Its sales for the six month period rose 7.7 percent year-on-year
MORE WEIGHT: The national weighting was raised in one index while holding steady in two others, while several companies rose or fell in prominence MSCI Inc, a global index provider, has raised Taiwan’s weighting in one of its major indices and left the country’s weighting unchanged in two other indices after a regular index review. In a statement released on Thursday, MSCI said it has upgraded Taiwan’s weighting in the MSCI All-Country World Index by 0.02 percentage points to 2.25 percent, while maintaining the weighting in the MSCI Emerging Markets Index, the most closely watched by foreign institutional investors, at 20.46 percent. Additionally, the index provider has left Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index unchanged at 23.15 percent. The latest index adjustments are to
CRESTING WAVE: Companies are still buying in, but the shivers in the market could be the first signs that the AI wave has peaked and the collapse is upon the world Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported a new monthly record of NT$367.47 billion (US$11.85 billion) in consolidated sales for last month thanks to global demand for artificial intelligence (AI) applications. Last month’s figure represented 16.9 percent annual growth, the slowest pace since February last year. On a monthly basis, sales rose 11 percent. Cumulative sales in the first 10 months of the year grew 33.8 percent year-on-year to NT$3.13 trillion, a record for the same period in the company’s history. However, the slowing growth in monthly sales last month highlights uncertainty over the sustainability of the AI boom even as
RSS