Tax revenue to exceed target: MOF

Taipei Times
Date: Dec 10, 2016
By: Kuo Chia-erh / Staff reporter

Total tax revenue from January through last month rose 4.6 percent year-on-year to NT$2.86 trillion (US$89.8 billion), after last month’s tax revenue rose 9.4 percent year-on-year to NT$207.1 billion, the Ministry of Finance (MOF) said yesterday.

“The result was due to higher revenue from taxes on business income and land,” Statistics Department Deputy Director Hsu Ray-lin (許瑞琳) told a news conference in Taipei.

Business income tax revenue climbed 10.1 percent from a year earlier to a record NT$500.9 billion in the first 11 months of the year, thanks to increasing tax revenue from corporations’ undistributed earnings.

During the same period, land tax revenue jumped 34.1 percent to NT$54.7 billion because of higher government assessed land values, the ministry said.    [FULL  STORY]

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