Tax revenue last month rose 11.3 percent from a year earlier to NT$239.1 billion (US$7.4 billion), lifted mainly by gains in corporate and personal income taxes, as well as stock exchange transactions, the Ministry of Finance said yesterday.
Personal income tax revenue swelled 37.5 percent to NT$40.7 billion, as some firms distributed year-end bonuses last month, ministry statistics official Liu Shun-rong (劉訓蓉) said, adding that cash dividends and capital gains from property deals contributed to the increase.
There is a trend for firms and mutual funds to distribute cash dividends every quarter rather than annually, the ministry said.
Photo: Wu Chi-lun, Taipei Times
Corporate income tax revenue rose 5.7 percent to NT$9 billion as firms gradually emerged from an economic slowdown induced by inventory adjustments, sharp global inflation and monetary tightening, it said.
The improving macroenvironment lent support to the local bourse, which has seen capital inflows from mutual funds and foreign players seeking to take advantage of the artificial intelligence (AI) boom, Liu said.
Taiwan is home to the world’s largest contract manufacturers of high-performance computing chips, high-capacity servers, storage, memory chips and other electronics.
Tax revenue from securities transactions in March spiked 65.6 percent to NT$29.1 billion, with average daily turnover soaring 88.4 percent from a year earlier to NT$551.7 billion, the ministry said, citing Taiwan Stock Exchange data.
The TAIEX climbed above the 20,000 points this month as dozens of local tech firms participate in supply of global AI infrastructure and services.
A positive wealth effect helped boost tax revenue from land value gains, which rose 13.8 percent to NT$7.8 billion, Liu said.
However, tax revenue from tariffs and sales of goods shrank 3.4 percent and 12.7 percent to NT$142 billion and NT$13 billion respectively, owing partly to a decline in vehicle imports, she said, adding that delayed recognition of vehicle sales contributed to the lackluster figures.
In the first quarter, the ministry collected NT$557.6 billion of tax revenue, a 14.5 percent increase from a year earlier and ahead of the government’s budget schedule by 16.4 percent, she added.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) secured a record 70.2 percent share of the global foundry business in the second quarter, up from 67.6 percent the previous quarter, and continued widening its lead over second-placed Samsung Electronics Co, TrendForce Corp (集邦科技) said on Monday. TSMC posted US$30.24 billion in sales in the April-to-June period, up 18.5 percent from the previous quarter, driven by major smartphone customers entering their ramp-up cycle and robust demand for artificial intelligence chips, laptops and PCs, which boosted wafer shipments and average selling prices, TrendForce said in a report. Samsung’s sales also grew in the second quarter, up
LIMITED IMPACT: Investor confidence was likely sustained by its relatively small exposure to the Chinese market, as only less advanced chips are made in Nanjing Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) saw its stock price close steady yesterday in a sign that the loss of the validated end user (VEU) status for its Nanjing, China, fab should have a mild impact on the world’s biggest contract chipmaker financially and technologically. Media reports about the waiver loss sent TSMC down 1.29 percent during the early trading session yesterday, but the stock soon regained strength and ended at NT$1,160, unchanged from Tuesday. Investors’ confidence in TSMC was likely built on its relatively small exposure to the Chinese market, as Chinese customers contributed about 9 percent to TSMC’s revenue last
LOOPHOLES: The move is to end a break that was aiding foreign producers without any similar benefit for US manufacturers, the US Department of Commerce said US President Donald Trump’s administration would make it harder for Samsung Electronics Co and SK Hynix Inc to ship critical equipment to their chipmaking operations in China, dealing a potential blow to the companies’ production in the world’s largest semiconductor market. The US Department of Commerce in a notice published on Friday said that it was revoking waivers for Samsung and SK Hynix to use US technologies in their Chinese operations. The companies had been operating in China under regulations that allow them to import chipmaking equipment without applying for a new license each time. The move would revise what is known
UNCERTAINTY: A final ruling against the president’s tariffs would upend his trade deals and force the government to content with billions of dollars in refunds The legal fight over US President Donald Trump’s global tariffs is deepening after a federal appeals court ruled the levies were issued illegally under an emergency law, extending the chaos in global trade. A 7-4 decision by a panel of judges on Friday was a major setback for Trump, even as it gives both sides something to boast about. The majority upheld a May ruling by the Court of International Trade that the tariffs were illegal. However, the judges left the levies intact while the case proceeds, as Trump had requested, and suggested that any injunction could potentially be narrowed to apply
RSS