TAIPEI (Taiwan News) — Taiwan’s net tax revenue surged 20.5% in January to NT$264.4 billion (US$8.42 billion), pushing the revised full-year total to a record NT$3.79 trillion, the Ministry of Finance said Wednesday.
It said the main contributors to January’s increase were securities transactions, business, and individual income taxes, per UDN. Securities transaction tax rose NT$27.4 billion, business tax increased NT$6.3 billion, and individual income tax climbed NT$4.6 billion from a year earlier.
The ministry also revised December’s tax revenue upward after accounting for deferred payments. Net revenue for December was adjusted to NT$206.6 billion, NT$36.5 billion higher than the preliminary figure.
The upward revision included an additional NT$18.9 billion in business tax, NT$5.8 billion in individual income tax and NT$4.4 billion in corporate income tax.
The central government fell NT$25.1 billion short of its target, reaching 99.1% of the budgeted amount. Local governments were NT$1.9 billion below target at 99.8%, while central special funds exceeded projections by NT$12.8 billion, reaching 108.5%.
Net securities transaction tax revenue in January totaled NT$43.9 billion, a 1.7% increase from a year earlier. Average daily turnover on the main and OTC markets reached NT$910.7 billion, with six additional trading days compared with last year due to the Lunar New Year holiday, falling largely in January last year.
Net individual income tax revenue rose 9.6% year-on-year to NT$52.7 billion, mainly due to higher withholding on profit distributions and royalty income. Net business tax revenue increased 5.9% to NT$112.2 billion, reflecting stable domestic demand and higher import tax revenue, though increased export tax refunds offset part of the gain.
