Breaking News, World News and Taiwan News.

Tax revenues hit new record in first half of 2014, reaching NT$1.878 trillion

TAIPEI, Taiwan -- Up to NT$1.878 trillion in tax revenues were collected in the first half of 2014, hitting a new record for the same period over past years, the Ministry of Finance (MOF) said yesterday.

 The tax collections represented a 5.5-percent growth compared with the same period last year. Tax collections of various types, including business tax, housing tax and license tax, reached new records.

 The MOF collected NT$149 billion in business tax, NT$62.26 billion in housing tax, NT$56.19 billion in license tax, NT$5.81 billion in gift tax and NT$2.27 billion in luxury tax. These all hit new records, according to Hsu Ray-lin (許瑞琳), deputy director of the MOF's statistics department.

 Compared with a year ago, business income tax collections grew by NT$27 billion, securities transaction tax collections grew by NT$11.4 billion, business tax collections grew by NT$8.2 billion and goods tax collection grew by NT$6.2 billion.

 All this collection increase is likely to offset a decrease of NT$8.3 billion in individual income tax collection.

 With such a high level of tax collection, the MOF is likely to reach its budget target this year, putting an end to tax collection shortages of the past; shortages that represented NT$25.8 billion in 2012 and NT$9.6 billion in 2013.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap
  chinapost search