April securities transaction tax revenues up 50% annually
Central News Agency
2014-05-12 10:12 PM
Taipei, May 12 (CNA) Revenues generated from taxes on securities transactions rose to NT$8 billion (US$264.76 million) in April, up 55.3 percent from the same month last year, a finance official said Monday. Average daily trading volume in primary and secondary markets for securities also showed an overall positive development for tax revenues in Taiwan, said Hsu Ray-lin, deputy director of the Ministry of Finance's Department of Statistics, citing internal figures. From the beginning of the year through April, revenues from the tax totaled NT$28.7 billion, a 37.2 percent increase from the first four months of last year, he said. The revenue budget for securities transaction tax is NT$87.1 billion for this year. In the year through April, daily turnover of local stocks averaged NT$122.9 billion on the Taiwan Stock Exchange (TWSE) and the over-the-counter GreTai Securities Market (GTSM) -- 5 percent higher than the basis used to estimate the budget, Hsu said. For the first 12 days of May, average daily turnover was NT$122.7 billion, close to the average for the four previous months, a good sign that the tax revenue will meet the target, he added. (By Wu Chia-yin and Evelyn Kao)
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