Newspaper article China Post

Net Tax Revenue Reaches a Record High

Newspaper article China Post

Net Tax Revenue Reaches a Record High

Article excerpt

TAIPEI, Taiwan -- The government collected a record NT$104.1 billion in net tax revenue in July, representing 6.3-percent growth from last year, according to statistics released by the Ministry of Finance (MOF) yesterday.

For the first seven months of 2014, the government has collected NT$1.19 trillion, a 5.6-percent increase from the previous year and also a new record; the hike was a result of the growth in income taxes, business taxes and capital gains taxes.

According to the MOF's Department of Statistics (DOS), the tax revenues collected this July represented a NT$6.2 billion increase compared to last July, and the sum collected in the first seven months of this year was NT$62.7 billion more than last year; the increases not only set records, but also surpassed the government's approved budget allocation at 102.3 percent.

The DOS pointed out that of the NT$1.19 trillion in tax revenues, it collected NT$6.9 billion in gift taxes, NT$2.74 billion in luxury taxes, NT$4 billion in business taxes, NT$63. …

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