Ministry of Finance: Land Value Increment Tax Revenue Declines 12.7% in First 3 Months; Taichung City Sees Steepest Drop Among Six Major Cities

(CNA, Taipei, 14th) The Ministry of Finance today released national tax revenue statistics. Real estate-related tax items showed mixed results in March, with Land Value Increment Tax seeing a significant year-on-year decrease of 12.7%. The net amount collected was NT$6.1 billion, a new low for the same month since March 2010. Most counties and cities showed negative growth, with Taichung City experiencing the largest year-on-year decrease of 47.2% among the six special municipalities.

Liu Hsun-jung, Deputy Director of the Department of Statistics at the Ministry of Finance, stated that real estate-related tax items showed mixed performance in March. Land Value Increment Tax and Individual House and Land Transaction Income Tax decreased by 12.7% and 8.7% year-on-year, respectively, while Deed Tax turned to an 11.7% annual increase.

Observing individual tax items, due to factors such as a decrease in the volume of real estate transactions and fewer large tax cases, the net collection of Land Value Increment Tax in March was NT$6.1 billion, the lowest for the same month since March 2010. Most counties and cities showed negative growth. Among the six special municipalities, Taichung City and Taoyuan City saw larger decreases of 47.2% and 16.6% year-on-year, respectively. The largest increase was in Taipei City, with a 27.2% annual rise, mainly due to an increase in large-value cases.

Liu Hsun-jung explained that the net collection of Land Value Increment Tax for the first three months was NT$16.6 billion, still the lowest for the same period since 2010, with a year-on-year decrease of 15.7%. Taichung City, New Taipei City, and Taoyuan City saw larger decreases.

Regarding Deed Tax, Liu Hsun-jung said that the net collection in March was NT$1.7 billion, showing both monthly and annual increases. There were mixed results across counties and cities. The larger increases were in Miaoli County, Taipei City, and New Taipei City, mainly due to contributions from large-value cases. The largest decrease was in Taichung City.

The net collection of Deed Tax for the first three months was NT$4.0 billion, a 7.5% annual increase. The larger increases were in New Taipei City, Miaoli County, and Tainan City, while the largest decrease was still in Taichung City.

For Individual House and Land Transaction Income Tax, Liu Hsun-jung stated that the net collection in March was NT$4.0 billion, with mixed results across counties and cities. The larger decreases were in Taoyuan City and Tainan City, while New Taipei City and Hsinchu City saw larger increases. The net collection for the first three months was NT$9.4 billion, a 6.9% annual decrease, with Taichung City and Taoyuan City seeing larger decreases, while Taipei and New Taipei City still saw increases. (Editor: Lin Shu-yuan) 1150414