Taiwan Stock Exchange Tax Revenue Surges Annually Despite Monthly Dip Amid Volatility

Taiwan's stock exchange tax revenue in July stood at NT$65.1 billion, marking a substantial 170% surge compared to the same period last year. However, this figure represents a 23% decrease from June, a downturn attributed to the significant volatility experienced in the Taiwan Stock Exchange during July, which saw a simultaneous decline in both stock prices and trading volumes.

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The decline from June is attributed to significant stock market volatility and reduced trading volume.

Despite the monthly dip, the cumulative stock exchange tax revenue for the first seven months of the year has reached a record NT$398.7 billion. This represents a remarkable 190% increase year-on-year and is the highest figure recorded for this period in 28 years. The overall national tax revenue for July was NT$289.1 billion, a 67% decrease from the previous year. This decline is primarily due to the extended deadline for income tax filings, which shifted a portion of last year's tax payments to July.

From January to July, total national tax revenue reached NT$2.8767 trillion, a 25% increase compared to the same period last year. This growth was largely driven by significant increases in stock exchange tax (up NT$259.3 billion), corporate income tax (up NT$153.3 billion), and business tax (up NT$83.8 billion). The Ministry of Finance reported that tax revenues from customs, corporate income tax, individual income tax, business tax, stock exchange tax, futures tax, house tax, inheritance tax, entertainment tax, and stamp tax all set new records for the January-to-July period.

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The cumulative stock exchange tax revenue for the first seven months of the year has reached a record NT$398.7 billion.

In July, the average daily trading value on the stock market was NT$1.1532 trillion, a 25.2% decrease from the previous month but a 180% increase year-on-year. The stock exchange tax for July, at NT$65.1 billion, reflects this trend with a monthly decrease but a significant annual increase. In contrast, the real estate market showed weakness, with land value increment tax revenue down 10.9% year-on-year in July and 8.5% for the first seven months. Personal housing transaction tax revenue also decreased by 14.1% in July and 6.8% for the year so far, indicating continued sluggishness in property market activity.

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The Ministry of Finance reported that tax revenues from customs, corporate income tax, individual income tax, business tax, stock exchange tax, futures tax, house tax, inheritance tax, entertainment tax, and stamp tax all set new records for the January-to-July period.