Taipei City Government

Latest information released by the Taipei Revenue Service (TRS) indicates that the net actual tax revenue of Taipei City for the year 2014 was 67.291 billion NTD, exceeding the budgeted tax revenue of 63.075 billion NTD by 4.216 billion NTD and marking a 107% attainment rate for budget. In comparison with 66.311 billion NTD of actual tax levied last year, the latest tax revenue increased by 980 million NTD, marking the 6th year of continuous growth in tax revenue and the highest since the year 2001.

According to the TRS, among all the categories of tax levied in the year 2014, land value tax, land value increment tax, house tax, vehicle license tax, stamp tax and amusement tax revenue all exceeded the budgeted annual tax revenue. In regard to land value increment tax, as a result of a rise in government declared values of land and myriad land transfers, the actual tax revenue levied was 19.067 billion NTD, exceeding the budgeted revenue by 2.067 billion NTD and marking a surplus of 12%. The land value tax followed next. Due to the excellent investigation of tax statements and utilization statuses of land value tax, 22.448 billion NTD of land value tax was levied, exceeding the budgeted revenue by 1.248 billion. The vehicle license tax, stamp tax, house tax and amusement tax exceeded the budgeted revenue by 514 million NTD, 299 million NTD, 217 million NTD and 20 million NTD, respectively. Furthermore, in comparison with the year 2013, all categories of tax, save for the deed tax, increased in the amount levied. With 362 million NTD, land value tax increased the most, followed by the increase of 241 million NTD for house tax.

The TRS also states that the budgeted tax revenue for the year 2015 is 65.075 billion NTD, exceeding that for the year 2014 by 2 billion NTD. Although the economic situation and business cycles at present appear to be ambiguous, the employees at TRS would do their best and are looking forward to setting records once again.