Taiwan's Securities Tax Revenues Down 59.9 Percent

Taiwan witnessed a drop of 59.9 percent in the volume of securities transaction tax collected in May this year from the same month of 2000, Taiwan's media reported Saturday.

The taxman gathered just 3.7 billion new Taiwan dollars (109 million US dollars) last month in transaction tax, the lowest figure yet this year, according to the authorities' figure.

The stock market's recent performance has been hit by the sluggish domestic and international economy. The drop in the securities tax revenue indicates the decreasing confidence in Taiwan's stock market among investors.

Securities transaction tax collected from January to May amounted to 30.95 billion new Taiwan dollars (915 million US dollars), a drop of 52.1 percent from the same period last year.

People's Daily Online --- http://english.peopledaily.com.cn/