Stock market boosts tax revenueBy Angelica Oung / Staff reporterTaiwan’s booming stock market contributed to a record quarter of tax revenue, figures released yesterday by the Ministry of Finance showed. Tax revenue for last month was NT$200.9 billion (US$7.06 billion), up 19.2 percent year-on-year, with cumulative tax revenue from January to March totaling a record NT$467.2 billion, an annual increase of 16.6 percent. Photo: Wu Chia-jung, Taipei TimesDepartment of Statistics Deputy Director-General Chen Yu-feng (陳玉豐) said that Taiwan’s booming stock market has resulted in securities transaction tax revenue growing for 18 consecutive months. While Taiwan’s tax revenue has been increasing as a result of a flourishing economy, Chen said that first-quarter tax revenue was also bolstered by new housing projects in Taipei, New Taipei City, Hsinchu City and Kaohsiung. Besides, the first quarter is not the most important tax quarter for the Taiwanese economy, Chen said.

Source: Taipei Times April 13, 2021 15:56 UTC