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Taiwan annual tax revenues hit new high in 2017

Taiwan annual tax revenues hit new high in 2017

TAIPEI: Taiwan collected tax revenues totaling NT$2.23 trillion (US$75.38 billion) in 2017, a historic high, according to statistics released Wednesday by the Ministry of Finance (MOF).

The tax revenues were an increase of NT$77.4 billion from budget level, marking the fourth consecutive annual growth for the past several years, the statistics indicate. Compared with the previous year, securities exchange tax income grew NT$19 billion last year, while a growth of NT$10.5 billion was registered in land value increment tax, a rise of NT$7.5 billion in gift tax, and an increase of NT$4 billion in tobacco and alcohol tax, the tallies show. In December, the national tax income totaled NT$107.9 billion, marking a drop of NT$30.7 billion, or 22.1 percent.