Taiwan's tax revenue hits record high in 2011

TAIPEI: Taiwan said Friday tax revenues in 2011 rose nearly nine percent to a record Tw$1.76 trillion ($58 billion) as a strong economy boosted corporate tax payments.

Last year, Taiwan companies paid Tw$367.2 billion in taxes for revenues made in 2010, when the island's economy grew at a 24-year high 10.88 percent, the finance ministry said.

The government also bagged an additional Tw$2.2 billion in a new "luxury tax" effective in June 2011 on high-end goods such as luxury apartments, cars, yachts, and private jets.