TAIPEI (Taiwan News) — The Ministry of Finance said Monday that tax collections totaled NT$1.17 trillion (US$36.46 billion) in June, up NT$761.8 billion from a year earlier.
The ministry said the large year-on-year increase was also partly due to last year’s extended income tax filing and payment deadlines, which delayed some payments until July, per UDN. From January to June, tax revenue totaled NT$2.56 trillion, up NT$1.16 trillion, or 81.5%, from the same period last year, per CNA.
First-half tax collections exceeded the budget target for the period, reaching 124.9% of the allocated amount and 65.6% of the full-year target. Personal income tax revenue totaled NT$405 billion in June, up NT$346.8 billion, or six times, from a year earlier, as delayed payments and higher self-paid tax payments boosted collections.
Corporate income tax revenue reached NT$588.3 billion in June, up NT$340.4 billion, or 1.4 times, from a year earlier. The ministry said the increase was mainly due to deferred payments from last year’s extended filing deadline and higher self-paid tax payments from this year’s corporate tax filings.
Securities transaction tax revenue totaled NT$84.9 billion in June, up NT$62.4 billion, or 2.8 times, from a year earlier, marking the 11th consecutive month of growth. The increase reflected strong stock market activity, with average daily trading value for listed and over-the-counter stocks reaching NT$1.54 trillion in June, up 2.6 times year-on-year.
For the first six months of the year, securities transaction tax revenue totaled NT$333.6 billion, up NT$218.1 billion, or 1.9 times, from a year earlier. The ministry said the increase was supported by higher stock trading activity, which remained a key driver of tax revenue growth.
