The national treasury last month collected NT$132.7 billion (US$4.75 billion) in tax revenue, an increase of 11.4 percent from a year earlier, bolstered mainly by sharp increases in securities and property transactions, the Ministry of Finance said yesterday.
Securities transactions generated a record NT$24.4 billion in tax revenue, rising 1.6 times from a year earlier, as daily turnover on the Taiwan Stock Exchange and the Taipei Exchange expanded almost threefold to a new high of NT$526.9 billion, Department of Statistics Deputy Director-General Chen Yu-feng (陳玉豐) told a news conference in Taipei.
Securities transaction tax revenue has increased for 19 consecutive months, the third-longest streak of gains, trailing only 21 months from 1996 to 1997 and 22 months from 1988 to 1990, Chen said.
Photo: CNA
The figure might climb higher this month based on daily trading volumes so far.
Market turnover yesterday surged to a record NT$714.835 billion, even though COVID-19 pandemic selloffs pushed the TAIEX down 652.48 points to 16,583.13.
For the first four months of this year, securities transaction tax revenue more than doubled from the same period last year to NT$80.4 billion, the ministry’s monthly report showed.
Land value increment tax revenue contributed NT$8.4 billion to the state chest, representing an annual increase of 12.1 percent, as the number of taxable cases swelled 23.6 percent to 57,510, it said.
A total of 226,643 deals subject to property gains taxes were recorded from January to last month, an increase of 21.1 percent from a year earlier, the ministry said.
Inheritance and gift tax revenue last month rose 63.6 percent to NT$3.9 billion, while sales tax revenue grew 11.5 percent to NT$16 billion, it said.
By contrast, personal income tax revenue shrank 2.4 percent to NT$28.6 billion, while corporate income tax revenue slid into negative territory due to tax returns, Chen said.
Tax revenue in the first four months of this year increased 15.5 percent year-on-year to NT$599.9 billion, beating the ministry’s forecast by 16.6 percent and covering 24.6 percent of the government budget for this year, the report said.
COMPETITION: AMD, Intel and Qualcomm are unveiling new laptop and desktop parts in Las Vegas, arguing their technologies provide the best performance for AI workloads Advanced Micro Devices Inc (AMD), the second-biggest maker of computer processors, said its chips are to be used by Dell Technologies Inc for the first time in PCs sold to businesses. The chipmaker unveiled new processors it says would make AMD-based PCs the best at running artificial intelligence (AI) software. Dell has decided to use the chips in some of its computers aimed at business customers, AMD executives said at CES in Las Vegas on Monday. Dell’s embrace of AMD for corporate PCs — it already uses the chipmaker for consumer devices — is another blow for Intel Corp as the company
MediaTek Inc (聯發科) yesterday said it is teaming up with Nvidia Corp to develop a new chip for artificial intelligence (AI) supercomputers that uses architecture licensed from Arm Holdings PLC. The new product is targeting AI researchers, data scientists and students rather than the mass PC market, the company said. The announcement comes as MediaTek makes efforts to add AI capabilities to its Dimensity chips for smartphones and tablets, Genio family for the Internet of Things devices, Pentonic series of smart TVs, Kompanio line of Arm-based Chromebooks, along with the Dimensity auto platform for vehicles. MeidaTek, the world’s largest chip designer for smartphones
TECH PULL: Electronics heavyweights also attracted strong buying ahead of the CES, analysts said. Meanwhile, Asian markets were mixed amid Trump’s incoming presidency Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares yesterday closed at a new high in the wake of a rally among tech stocks on Wall Street on Friday, moving the TAIEX sharply higher by more than 600 points. TSMC, the most heavily weighted stock in the TAIEX, rose 4.65 percent to close at a new high of NT$1,125, boosting its market value to NT$29.17 trillion (US$888 billion) and contributing about 400 points to the TAIEX’s rise. The TAIEX ended up 639.41 points, or 2.79 percent, at 23,547.71. Turnover totaled NT$406.478 billion, Taiwan Stock Exchange data showed. The surge in TSMC follows a positive performance
FUTURE TECH: Nvidia CEO Jensen Huang would give the keynote speech at this year’s Consumer Electronics Show, which is also expected to highlight autonomous vehicles Gadgets, robots and vehicles imbued with artificial intelligence (AI) would once again vie for attention at the Consumer Electronics Show (CES) this week, as vendors behind the scenes would seek ways to deal with tariffs threatened by US president-elect Donald Trump. The annual Consumer Electronics Show opens formally in Las Vegas tomorrow, but preceding days are packed with product announcements. AI would be a major theme of the show, along with autonomous vehicles ranging from tractors and boats to lawn mowers and golf club trollies. “Everybody is going to be talking about AI,” Creative Strategies Inc analyst Carolina Milanesi said. “From fridges to ovens
RSS