Taiwan Collects Record High of NT$1.7136 Trillion in Taxes in First 11 Months
2013/12/13 | By Judy LiDriven by surging property tax revenues, Taiwan collected taxes in November 2013 totaling NT$170.2 billion (US$5.67 billion) for an annual growth of 4.6% or NT$7.5 billion (US$250 million) and in the first 11 months some NT$1.7136 trillion (US$57.12 billion), the highest of its kind and up NT$21.1 billion (US$703.33 million) or 1.2% year-on-year, according to the statistics released by the Ministry of Finance (MOF).
In November land value tax, consolidated income tax and land value increment tax collected rose an annual NT$3.1 billion (US$103.33 million), NT$2 billion (US$66.67 million) and NT$1.2 billion (US$40 million), respectively.
In the first 11 months land value increment tax collected surged NT$20.6 billion (US$686.67 million) or 28.4%, the highest growth among all taxes. In the same period the business tax revenues rose 5.7% to NT$297.7 billion (US$9.92 billion), the highest of its kind ever recorded. Likewise, land value increment tax revenues hit a 15-year high of NT$93.1 billion (US$3.1 billion). However, the business income tax revenues declined 4.3% to NT$359.4 billion (US$11.98 billion) during the period.
It's noteworthy that New Taipei City, due to robust realty transactions, collected land value increment tax of NT$22.264 billion (US$742.13 million) in the first 11 months, surging 45.8% YoY to be the highest among Taiwan's five major cities. (JL)
Land Value Increment Tax Collected by Taiwan's 5 Major Cities in First 11 Months of 2013 | ||
City
| Revenues (NT$B)
| Annual growth (%)
|
New Taipei City
| 22.264
| 45.8
|
Taipei City
| 16.71
| 15.8
|
Taichung City
| 12.787
| 26.9
|
Tainan City
| 4.999
| 19.1
|
Kaohsiung City
| 6.697
| 35.4
|