TAIPEI (Taiwan News) — While Taiwan’s overall tax revenue declined in August, individual income tax and the securities transaction tax posted gains, easing fiscal pressures, the Ministry of Finance reported Thursday.

Net collections for August were NT$153.7 billion (US$5.06 billion), down about 10% year on year, mainly due to declines in business, gift, and corporate income tax, per UDN. Individual income tax rose by NT$4.6 billion, helping offset some of the losses.

From January to August, cumulative collections reached NT$2.45 trillion, accounting for 93% of the allocated budget and 64.6% of the full-year target. However, the figure represents a NT$66.1 billion, or 2.6%, decrease from the same period last year, per CNA.

Corporate income tax net collections in August were NT$6.6 billion, down 39.5% year on year due to large refund cases. For the first eight months, collections totaled NT$642.1 billion, a 4.2% decrease from last year, despite higher self-reported payments, as installment deferrals in response to US tariff measures reduced overall intake.

Individual income tax in August rose 5.9% year on year to NT$82.9 billion, with cumulative collections of NT$703.3 billion from January to August, up 5.4%. Higher dividend and salary withholdings contributed to the increase.

Business tax fell by NT$7.2 billion in August as lower import taxes on chemicals and metals and increased zero-rated export refunds outweighed stable domestic demand.

Securities transaction tax benefited from rising trading activity. Average daily turnover in August reached NT$553.3 billion, up 17.2% year on year, boosting net collections to NT$27.7 billion, an 8.1% increase.