Tax revenue for first 8 months hits all-time high: ministry

Focus Taiwan
Date: 2017/09/11
By: Chiu Po-sheng and Kuan-lin Liu

Taipei, Sept. 11 (CNA) The government collected NT$1.50 trillion in tax revenues

CNA file photo

during the first eight months of this year, according to data released by the Ministry of Finance (MOF) on Monday.

According to the MOF, the figure was up 2.3 percent from the same period a year earlier and was the highest amount of revenue for the January to August period in the country’s history.

Among the main sources of tax revenues were value-added taxes (VAT, NT$241.4 billion), corporate income taxes (NT$308.5 billion), personal income taxes (NT$387.0 billion), excise taxes (NT$117.6 billion), tobacco surcharges (NT$26.6 billion), and land value increment taxes (NT$61.5 billion).

VAT revenue rose 1.4 percent year-on-year, primarily due to increases in domestic consumption and higher tax revenues from sales of imported oil and coal, according to the ministry.    [FULL  STORY]

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