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進入《TAIPEI TIMES》 Revenue from taxes drops 1.6 percent year-on-year
Department of Statistics Deputy Director-General Chen Yu-feng holds a news conference in Taipei on March 12, 2019. Photo: Wu Chia-jung, Taipei Times
By Crystal Hsu / Staff reporter
Tax revenues last month totaled NT$142.3 billion （US$5 billion）, falling 1.6 percent from a year earlier, as tax cuts and fewer imports of mineral products weighed on individual and corporate income, as well as business taxes, the Ministry of Finance said yesterday.
The lackluster showing contributed to last year’s revenue target being missed by 1.7 percent, even though revenue from securities transaction tax soared to a record high and revenue from property tax posted a hefty increase.
It is the first time in eight years that the government has failed to meet its revenue target, the ministry said, adding that NT$2.38 trillion was collected, but the target was missed by NT$40.5 billion.
“The COVID-19 pandemic dealt a blow to economic activity, although Taiwan managed a quick recovery,” Department of Statistics Deputy Director-General Chen Yu-feng （陳玉豐） said.
Tax cuts on companies’ retained earnings and weaker imports of mineral products accounted for a 1.6 percent retreat in tax revenue last month, Chen said.
For the whole of last year, similar reasons coupled with COVID-19 relief measures underpinned the lag, she said.
Revenue from corporate income tax last year declined 26.7 percent to NT$47.8 billion, while revenue from sales tax dropped 4.2 percent to NT$169.5 billion, the ministry said, attributing the declines to a 50 percent tax cut on companies’ retained earnings, and tax returns on purchases of energy-saving appliances and vehicles.
Revenue from securities transaction tax totaled NT$19.5 billion last month and NT$150.2 billion for the whole of last year — annual increases of more than double and 64.7 percent respectively, the ministry said.
Chen said that she expects revenue from securities transaction tax to rise more this year, given the record-breaking daily turnovers.
Revenue from property gains tax was another bright spot, totaling NT$12.4 billion last month and NT$113.3 billion for the whole of last year, the ministry said.
That is because taxable cases grew 26.7 percent last month and 8.4 percent last year, it added.
Tax revenues this year might hold steady with a “positive bias” compared with last year due to the lingering effects of COVID-19 and economic improvements at home and abroad, Chen said.
新聞來源：TAIPEI TIMES
