Stock market boosts tax revenue
By Angelica Oung / Staff reporter
Taiwan’s booming stock market contributed to a record quarter of tax revenue, figures released yesterday by the Ministry of Finance showed.
Tax revenue for last month was NT$200.9 billion (US$7.06 billion), up 19.2 percent year-on-year, with cumulative tax revenue from January to March totaling a record NT$467.2 billion, an annual increase of 16.6 percent.
While gift, inheritance, business, alcohol and tobacco, and land value incremental tax revenues all reached double-digit growth in the first quarter, the most remarkable growth was in securities transaction tax revenue, which reached a record NT$55.9 billion in the first quarter, up 102.8 percent year-on-year.
Tax revenue in the nation last month totaled NT$187.4 billion (US$6.6 billion), rising 20.9 percent from a year earlier, as record stock transaction volumes bolstered income from securities transaction taxes, while a lower comparison base last year also helped, the Ministry of Finance said yesterday.
Securities transaction tax income contributed NT$21.2 billion to the state coffers, more than a threefold increase from NT$7 billion a year earlier, as daily securities turnover rose to NT$428.7 billion, compared with NT$179.8 billion in January last year, Department of Statistics Deputy Director-General Chen Yu-feng (陳玉豐) said.
The TAIEX has repeatedly rallied to new highs in the
By Crystal Hsu / Staff reporterTax revenues last month totaled NT$142.3 billion （US$5 billion）, falling 1.6 percent from a year earlier, as tax cuts and fewer imports of mineral products weighed on individual and corporate income, as well as business taxes, the Ministry of Finance said yesterday.