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Income tax revenues for 2011 see large growth

2012/06/21 19:21:35

Taipei, June 21 (CNA) The government's income tax revenues in 2011 amounted to NT$313.7 billion (US$10.50 billion), marking a year-on-year increase of NT$42.2 billion or 15.5 percent, the Ministry of Finance reported Thursday.

During the same period, individual income tax revenues rose to NT$89.2 billion, an increase of NT$43.6 billion or 95.6 percent from 2010, according to statistics compiled by the ministry.

The huge increase in personal income tax revenues could be attributed mainly to the recovery of the domestic economy, according to Finance Ministtry.

However, on the corporate income tax front, the revenues of 2011 registered NT$224.5 billion, a decrease of NT$1.4 billion or 0.6 percent from last year, the statistics showed.

In Taiwan, personal and corporate income taxes are filed during May 1-31 each year.

(By Hsieh Chia-chen and Hanna Liu)