Tax revenue last month increased 11.5 percent from a year earlier to NT$216.5 billion (US$6.67 billion), supported by delayed corporate income tax filing, as well as increases in securities transaction and business taxes, the Ministry of Finance said yesterday.
Corporate income tax revenue spiked 29.5 percent year-on-year to NT$10.4 billion, as bad weather late last month led some companies to postpone filing their taxes, the ministry said.
WEAK MANUFACTURING
Photo: Clare Cheng, Taipei Times
In the first seven months of the year, revenue from corporate income tax shrank 16.3 percent to NT$128.5 billion, as most manufacturing sectors continued to take a hit from weak demand amid a global economic slowdown, it said.
Personal income tax revenue grew 7.3 percent to NT$8.4 billion, as revenue from house sales offset the decline in revenue from personal income, the ministry said.
Likewise, personal income tax revenue picked up 11.2 percent to NT$589 billion in the first seven months, as a sizable number of people reaped a windfall from a housing boom and paid more income taxes linked to property deals, it said.
Tax revenue from securities transactions last month soared 41.1 percent annually to NT$31.5 billion, thanks to a hefty 27.4 percent advance in the average daily turnover to NT$585 billion, the ministry said.
The upswing came as foreign institutional players and proprietary traders dumped tech shares in the second half of last month, while mutual funds raised stakes, it said.
HOME BUYING
Tax revenue from land value gains rose 17.8 percent to NT$8.1 billion last month, as the home-buying zeal remained unabated and housing deals in the six special municipalities increased 11.6 percent last month from a year earlier, the ministry said.
As of last month, cumulative tax revenue totaled NT$2.35 trillion, representing a 2.8 percent increase from the same period last year and staying ahead of the government’s budget schedule by 9.6 percent, it said.
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