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2023 tax revenues hit record high
12 January, 2024
The Ministry of Finance says tax revenue rose by 5.7% last year to a new high of over NT$3.4319 trillion in 2023.
According to the ministry, the higher total tax revenue was due to record high collection in some of the largest tax revenue categories, while only the tobacco and alcohol tax and the land value increment tax failed to meet budgetary targets.
In terms of individual tax categories, personal income tax revenue rose by 14.4% in 2023 from a year earlier and business tax revenue climbed 3% while profit-seeking enterprise income tax revenues rose by 4.7% over 2022 levels.
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