Taiwan collected tax revenues totaling NT$1.5251 trillion (US$50.84 billion) in the first nine months, the highest of its kind and up 7.6% year on year, according to the statistics released by Taiwan's Ministry of Finance (MOF).
Collections of business, housing, license, luxury, commodity, and inheritance & donation taxes all reached new highs of their kinds. In addition, business income tax rose an annual 15.7% to NT$317.1 billion (US$10.57 billion) during the period, indicative of profitability amid promising business climate. In contrast, land value increment tax revenues only edged up 1.4% to NT$77.2 billion (US$2.57 billion).
With the business climate to stay buoyant, MOF predicts total tax revenues may exceed the goal by NT$90 billion (US$3 billion) for the year.
In September, business income tax revenues came to NT$64.1 billion (US$2.14 billion) for a sharp year-on-year growth of 22%, with consolidated income tax revenue up 23.9% and those of business, customs, and commodity taxes rising 8%-12%. Likewise, securities trading tax revenues rose 14.2% YoY to NT$6.5 billion (US$216.67 million), yet down NT$3.1 billion (US$103.33 million) from the peak of NT$9.6 billion (US$320 million) recorded in July. (JL)
|Taxes that Hit New Highs in First 9 Months|
|| Revenue (NT$B.)
|| Annual comparison (NT$B.)
|| Annual growth (%)
| Business tax
| Housing tax
| Luxury tax
| Inheritance & donation tax
| License tax
| Commodity tax
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