The state might meet its tax revenue target for this year this month, with a surplus revenue of at least NT$100 billion (US$3.1 billion), Minister of Finance Chuang Tsui-yun (莊翠雲) said yesterday.
As of last month, the ministry had collected NT$2.79 trillion in tax revenue, or 90.9 percent of the target for this year, Chuang said at a meeting of the legislature’s Finance Committee in Taipei.
The full-year target could be achieved this month if things go smoothly, she said.
Photo: Liao Chen-hui, Taipei Times
The data indicate that there would be a tax surplus of NT$$100 billion, which would be used to improve Taiwan’s financial health and pay government debts, Chuang said, ending speculation that the government would distribute rebates.
The government in April gave Taiwanese and permanent foreign residents a one-off cash payment of NT$6,000 as a rebate from surplus tax revenue of more than NT$400 billion last year.
The move was intended to help invigorate private consumption amid slumping exports and a global economic slowdown.
As of last month, revenue from gift and inheritance, business and license taxes had met their annual targets, the ministry said.
Personal, corporate, sales, customs, securities transaction and house tax revenue would soon follow suit in the absence of major shocks, it said.
Liquor and tobacco tax revenue is near its target, while land value incremental tax revenue is lagging due to a decline in local property transactions, ministry data showed.
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