Tax Revenue Rises Thanks to China’s Double 11 Sales

Kaohsiung port
Via Wikimedia Commons

Tax revenue in Taiwan increased significantly from last year as residents purchased goods through e-commerce retailers in mainland China during the “Double 11” sales, the Ministry of Finance said yesterday.

Imported goods from Chinese retailers boosted tax revenue in Taiwan by NT$39.31 million (US$1.3 million), an increase of 51.8% from the previous year. The total is from import and sales taxes, UDN reported. Total tax revenue in November reached NT$151.7 million (US$5.05 million).

A total of 3.745 customs declarations were submitted from sales during the Double 11 shopping holiday, up 49.2% from November 2016 and 21.9% from October this year. The value of all imported goods in November increased by 12.5% year-on-year to NT$404.4 million (US$13.47 million). Total weight of the goods also increased to 1.495 million kg, up 16.42% from the previous year.

Customs data indicates that the main products purchased are clothing, footwear, jewelry, and mobile phone accessories.

Exports from Taiwan between October and November dipped slightly by 1.8% year-on-year, with the value of the goods declining 7.3% to NT$2.86 billion (US$95.2 million). The main exports were documents, cosmetic masks, clothes, footwear and textiles.

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