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.
When an apartment comes up for rent in Germany’s big cities, hundreds of prospective tenants often queue down the street to view it, but the acute shortage of affordable housing is getting scant attention ahead of today’s snap general election. “Housing is one of the main problems for people, but nobody talks about it, nobody takes it seriously,” said Andreas Ibel, president of Build Europe, an association representing housing developers. Migration and the sluggish economy top the list of voters’ concerns, but analysts say housing policy fails to break through as returns on investment take time to register, making the
‘SILVER LINING’: Although the news caused TSMC to fall on the local market, an analyst said that as tariffs are not set to go into effect until April, there is still time for negotiations US President Donald Trump on Tuesday said that he would likely impose tariffs on semiconductor, automobile and pharmaceutical imports of about 25 percent, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the US leader’s trade war. “I probably will tell you that on April 2, but it’ll be in the neighborhood of 25 percent,” Trump told reporters at his Mar-a-Lago club when asked about his plan for auto tariffs. Asked about similar levies on pharmaceutical drugs and semiconductors, the president said that “it’ll be 25 percent and higher, and it’ll
NOT TO WORRY: Some people are concerned funds might continue moving out of the country, but the central bank said financial account outflows are not unusual in Taiwan Taiwan’s outbound investments hit a new high last year due to investments made by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other major manufacturers to boost global expansion, the central bank said on Thursday. The net increase in outbound investments last year reached a record US$21.05 billion, while the net increase in outbound investments by Taiwanese residents reached a record US$31.98 billion, central bank data showed. Chen Fei-wen (陳斐紋), deputy director of the central bank’s Department of Economic Research, said the increase was largely due to TSMC’s efforts to expand production in the US and Japan. Investments by Vanguard International
WARNING SHOT: The US president has threatened to impose 25 percent tariffs on all imported vehicles, and similar or higher duties on pharmaceuticals and semiconductors US President Donald Trump on Wednesday suggested that a trade deal with China was “possible” — a key target in the US leader’s tariffs policy. The US in 2020 had already agreed to “a great trade deal with China” and a new deal was “possible,” Trump said. Trump said he expected Chinese President Xi Jinping (習近平) to visit the US, without giving a timeline for his trip. Trump also said that he was talking to China about TikTok, as the US seeks to broker a sale of the popular app owned by Chinese firm ByteDance Ltd (字節跳動). Trump last week said that he had
RSS