TAIPEI (Taiwan News) — The National Treasury Administration under the Ministry of Finance said Tuesday that Taiwan's central government revenue reached NT$477.1 billion (US$14.5 billion) in the first quarter of this year.
According to the administration, the figure represented 15.1% of the annual revenue target, marking the lowest first-quarter level since 2021. The year-on-year decline of NT$9.6 billion was mainly attributed to a one-time NT$11.4 billion contribution from the National Financial Stabilization Fund in the same period last year, per CNA.
The administration said that tax-related revenues reached NT$386.5 billion, accounting for nearly 14% of the annual tax revenue target. This also represents an increase of NT$3.9 billion compared to the same period last year.
The increase in tax revenue was mainly driven by a NT$12.6 billion rise in individual income tax and an NT$800 million increase in customs duties. However, this was partially offset by declines in securities transaction tax (down NT$5.2 billion), commodity tax (down NT$3 billion), and business income tax (down NT$1.3 billion).
The administration said non-tax revenues, including income from state-owned enterprises, land leasing, investment returns, administrative fees, and fines, totaled NT$90.6 billion. The figure represents 23.8% of the annual target for this category, marking a year-on-year decrease of NT$13.5 billion.
Compared to the same period last year, income from state-owned enterprises fell by NT$2.9 billion, while other non-tax revenues declined by NT$11.3 billion, the administration added.
Government revenue in the first quarter was in line with expectations, the administration said. However, it noted that uncertainties could impact revenue performance for the rest of the year due to factors such as the Trump administration’s tariff policies, the recent rapid appreciation of the Taiwan dollar against the US dollar, and fluctuations in global trade conditions.
