Taiwan’s tax revenues have hit a record high of nearly NT$2 trillion this year. That was the word from Finance Minister Chang Sheng-ford on Wednesday.
Chang said that as of November, tax revenues had already reached NT$1.99 trillion. That's NT$139 billion over next year. He predicts that this year’s tax revenues will go over the original estimate of NT$1.8 trillion to reach over NT$2.1 trillion this year.
There are many reasons for the surplus. Chang said listed companies are profiting and their income taxes have increased by over NT$50 billion. There has also been a NT$60 billion increase in revenues from unitary income tax.
Chang said that over the past eight years, the public has been paying more taxes, but the nation’s finances are now healthier. He said that new laws such as the integrated housing and land tax to go into effect next year will also make the tax system fairer.