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MOF to increase debt repayments
The Ministry of Finance (MOF) has announced a 5% increase in debt repayment. This comes as Taiwan's total tax revenue for 2024 is expected to exceed the budget by approximately NT$400 billion.
Minister of Finance Chuang Tsui-yun (莊翠雲) said the move is in line with a resolution passed last year by the Finance Committee, which stipulates that 5% of surplus tax revenue be allocated to debt repayment.
MOF statistics show that Taiwan's national tax revenue for the first ten months of this year reached NT$3.295 trillion, marking a record high for this period and a 9% increase from that of last year.
This amount has already surpassed this year's budget by NT$61.5 billion, with the ministry projecting an overall surplus of 400 NT billion by the end of the year.
