Tax revenue from securities transactions last month increased 16.3 percent from a year earlier to NT$25.7 billion (US$799.9 million), rising on an annual basis for the 16th consecutive month and hitting the highest level for the month of August, data released by the Ministry of Finance showed on Wednesday.
Cumulative tax revenue from securities transactions in the first eight months of this year rose 55.3 percent year-on-year to NT$200.3 billion, also a record high for the period, as daily turnover on the local bourse averaged NT$503.7 billion, up 50.3 percent from a year earlier, the data showed.
However, the ministry is conservative about revenue this month as local trading volume has dwindled, it said.
Photo: CNA
The TAIEX fluctuated sharply after technology stocks encountered headwinds amid concern about a delay in the rollout of Nvidia Corp’s artificial intelligence (AI) chips.
Daily turnover on the local bourse averaged NT$472.1 billion last month, dipping below the NT$500 billion level for the first time in six months, it said.
As of Wednesday, it dipped further to NT$384.4 billion, as investors adopted a wait-and-see attitude, it added.
If trading volume does not recover significantly in the following sessions, it would cast a shadow over securities transaction tax revenue this month, it said.
The TAIEX yesterday closed up 622.25 points, or 2.96 percent, at 21,653.25, after tech stocks, including Taiwan Semiconductor Manufacturing Co (台積電) jumped as Nvidia Corp CEO Jensen Huang (黃仁勳) on Wednesday touted strong demand for AI chips.
Overall, the nation last month collected NT$170.8 billion in tax revenue, up NT$500 million, or 0.3 percent, from a year earlier, the ministry said in a statement.
The ministry attributed the growth mainly to increases in gift tax revenue, which rose NT$5.4 billion year-on-year, and securities transaction tax revenue, which climbed NT$3.6 billion from a year earlier.
Meanwhile, personal income tax revenue posted the largest decline of NT$3.6 billion year-on-year, and corporate income tax revenue fell by NT$3.4 billion, it said.
In the first eight months of this year, cumulative tax revenue rose by NT$63.8 billion, or 2.6 percent, year-on-year to NT$2.52 trillion, mainly as increases in revenues from securities transaction, personal income and business taxes offset the decreases in revenue from corporate income and commodity taxes.
The January-to-August figure was ahead of the government’s budget schedule by 9.5 percent and reached 78 percent of its full-year target, the ministry said.
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