The nation’s tax revenue last month rose 24.9 percent year-on-year to NT$165.4 billion (US$5.36 billion) on the back of hefty gains from corporate and personal income taxes, even though income from stock and property transaction taxes declined, the Ministry of Finance said yesterday.
Corporate income tax revenue spiked 38.7 percent annually to NT$14.7 billion, as major Taiwanese companies posted sharp improvements in monthly earnings, the ministry said.
Corporate tax revenue is likely to beat the budget for this year, despite growing economic uncertainty, it said.
Photo: Clare Cheng, Taipei Times
Similarly, personal income tax revenue soared 66.8 percent to NT$91.5 billion, as cash dividends and capital gains taxes from property transactions continued to lend support, the ministry said.
For the first eight months of the year, personal income tax revenue totaled NT$125.7 billion, a solid pickup of 32 percent from the same time last year, the ministry’s data showed.
By contrast, tax revenue from securities trading plunged 42.3 percent year-on-year after daily turnover shrank from NT$497.5 billion to NT$438.2 billion, the ministry said.
Cumulative securities transaction tax revenue in the first eight months amounted to NT$123.5 billion, down 36.7 percent from a year earlier and is unlikely to meet the annual target amid the gloomy sentiment, it said.
Economic uncertainty also affected land value increment tax revenue, which stood at NT$7.3 billion last month, a 12.6 percent drop from a year earlier, the ministry said, adding that the number of taxable cases decreased 4.2 percent year-on-year to 44,006 last month.
Overall tax revenue from January to last month reached NT$2.26 trillion, growing 16.8 percent from a year earlier and meeting 83 percent of the government’s annual target.
“The chance is high that we might see another year of revenue surplus,” the ministry said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
STABLE RESULTS: Despite June’s lower consolidated revenue, second-quarter sales still reached a record high, driven by demand for chips for AI applications Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales of NT$263.71 billion (US$9.02 billion) for last month, its second-lowest monthly result this year. The world’s largest contract chipmaker said in a statement that its revenue last month only fared better than the NT$260.01 billion posted in February. Last month’s figure rose 26.9 percent from a year earlier, but slumped 17.7 percent from May, the company said. However, second-quarter revenue reached NT$933.8 billion, a record high for a single quarter, company data showed. The figure represented growth of 11.26 percent from the first quarter and 38.6 percent from a year earlier. Previously, TSMC said that
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