Taiwan's National tax income hit new high of NT$1.77 trillion in 2011.
The national taxation burden rate refers to the share of taxation income in gross domestic product. Taiwan's national taxation burden amounted to 11.9% in 2010, the third lowest ever and the lowest worldwide in that year.
Hsu Jui-lin, deputy chief statistician of the MOF, pointed out that the government has set a budgeted taxation income of NT$1,822.5 billion for 2012, up NT$57.9 billion over the actual taxation income in 2011.
Hsu attributed the record amount of taxation income last year to two major factors. Thanks to the 10.72% economic growth rate in 2010, corporate income tax advanced to NT$367.2 billion, the third highest ever. Meanwhile, with upturn in private consumption, the government collected NT$283.9 billion of business tax, a record high.
Incomes from land price tax, housing tax, and license tax all reached record highs in 2011, while personal income tax contributed NT$343 billion to the national coffers, the third highest ever.
Last year's taxation income of NT$1,764.6 billion is NT$142.4 billion higher than the 2010 level and exceeds, for the second straight year, the budgeted taxation income by NT$68.7 billion.
Due to the Chinese Lunar New Year holiday, taxation income in January reached only NT$93.4 billion, NT$21.8 billion less than a year earlier, with business tax and securities transaction tax suffering the larger reduction.
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|Publication:||The Taiwan Economic News|
|Article Type:||Brief article|
|Date:||Feb 10, 2012|
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