The nation’s tax revenue last month jumped 22 percent year-on-year to NT$692.3 billion (US$23.08 billion), due to substantial gains in revenue generated from corporate and personal income taxes which more than offset retreats in revenue received from commodity tax, as well as stock and property transaction taxes, the Ministry of Finance said yesterday.
Corporate income tax revenue spiked 36.6 percent annually to NT$315 billion, as major Taiwanese companies reported an increase in earnings, the ministry said.
Similarly, personal income tax revenue soared 37.6 percent to NT$214.7 billion, thanks to wage increases, the distribution of cash dividends by local listed firms and capital
The nation’s tax revenue last month reached NT$491.4 billion (US$16.44 billion), spiking 43.2 percent from a year earlier on the back of hefty corporate and personal income tax gains, the Ministry of Finance said yesterday.
Corporate income tax revenue surged 77.7 percent year-on-year to NT$361.5 billion, as major Taiwanese companies posted record-high earnings last year and filed income taxes last month after policymakers granted a one-month moratorium to accommodate potential delays caused by a local COVID-19 outbreak, the ministry said.
Corporate income tax revenue in the first six months of this year climbed to a record NT$1.4 trillion, the ministry said.
Personal income
CAUTIOUS BUYING: The manufacturing production index is expected to be flat or grow 3 percent annually this month as customers digest inventories, the MOEA saidBy Lisa Wang / Staff reporter
The industrial production index rose 4.48 percent year-on-year to 135.28 last month, underpinned by robust demand for chips used in 5G-related devices, cloud-based servers and automotive chips, the Ministry of Economic Affairs said yesterday.
Last month’s figure marked the best May performance and grew for the 28th consecutive month on an annual basis, the ministry said.
In addition, the manufacturing production index a major contributor to industrial production climbed 5.41 percent from the preceding year, it said.
“The semiconductor sector showed strong growth momentum last month, which is attributable to rising demand for cloud-based servers as more manufacturers increased automation