Tax revenue climbs 9 percent on back of securities deals
Taiwan’s tax revenue last month advanced 9 percent year-on-year to NT$252.7 billion (US$9.12 billion), boosted by increases in securities transactions, business and land taxes, the Ministry of Finance said yesterday.
Securities transactions rose last month, fueled by stocks of companies eyeing to play a role in the emerging “metaverse,” as well as equities that profit from continued port congestions in the US and a rising number of COVID-19 cases involving the Omicron variant of SARS-CoV-2, Department of Statistics Deputy Director-General Chen Yu-feng (陳玉è±) said.
Securities transaction tax revenue increased 66.98 percent from a year earlier to NT$23.9 billion, as daily stock market turnover gained 72.4 percent to NT$458.7 billion, reversing three months of decline, Chen said.
Although land value increment tax revenue contracted 13.8 percent to NT$9.6 billion, owing to a high baseline last year due to large deals, the number of taxable cases grew 7.1 percent to 61,649 last month, Chen said.
Personal income tax revenue grew 11.2 percent to NT$22.3 billion, boosted by capital gains taxes from short-term property transactions, she said.
For the first 11 months of this year, the government received NT$2.71 trillion in tax revenue, 11 percent more than expected for the whole year, Chen said. Read More…
