2013 tax revenues hit record high, outpaced by gov't spending
Central News Agency
2014-02-13 09:04 PM
Taipei, Feb. 13 (CNA) While the government collected a record NT$1.83 trillion (US$60.47 billion) in net tax revenue last year, the amount still falls short of annual government spending, according to statistics released by the Ministry of Finance Thursday. The adjusted annual tax revenue was NT$37.4 billion, a 2.1 percent increase from the previous year but only 98.4 percent of the total 2013 budget, leaving a shortfall of NT$29.6 billion. Hsu Jui-lin, a statistics official, said the 2013 net was boosted by increases of NT$22.1 billion in land value incremental taxes, NT$21.2 in business taxes and NT$8.1 billion in land transaction taxes -- growth of 27.3 percent, 7.5 percent and 12.9 percent, for each respective category. The business sector did not fare well over the year, however, resulting in NT$16.6 billion less business tax revenue than in 2012, an annual decrease of 4.5 percent, Hsu noted. (By Wu Chia-ying and S.C. Chang)
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