Tax revenue last month totaled NT$423.4 billion (US$13.16 billion), soaring 27.4 percent from a year earlier, as almost all tax categories reported solid advances, the Ministry of Finance said yesterday.
Revenue from corporate income tax surged 62.2 percent year-on-year to NT$189.6 billion, as local tech firms benefitted from an ongoing artificial intelligence boom though other sectors remain weighed by soft global demand, Department of Statistics Deputy Director Liu Hsun-jung (劉訓蓉) said.
Revenue from personal income tax gained 4 percent annually to NT$44.1 billion, as people paid more income taxes linked to cash dividends and property transactions, Liu said.
Photo: Clare Cheng, Taipei Times
Revenue from securities transaction tax elevated 29.8 percent year-on-year to NT$20.4 billion though the volume represented a 20 percent retreat from one month earlier, he said.
The local bourse took a hit from weak job data in the US and the alleged anti-trust probe against artificial intelligence chip designer Nvidia Corp in the first half of last month, Liu said. However, investment sentiment picked up much after the US Federal Reserve cut interest rates by 50 basis points later the same month, he said.
Liu declined to comment on the local bourse’s performance ahead but pointed out that revenue from securities transaction tax already met the budget target for the whole of this year.
Revenue from land value increment tax approximated NT$7.4 billion, rising 21.6 percent from a year earlier, helped by noticeable value gains in real estate properties, Liu said.
In the first nine months, overall tax revenues amounted to NT$2.95 trillion, up 5.5 percent from a year earlier and accounting for 91.1 percent of this year’s budget target, the ministry said.
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