TAIPEI (Taiwan News) — The Ministry of Finance (MOF) announced on Monday (Oct. 14) that total national tax revenue for September reached NT$423.4 billion (US$13.1 billion), a year-on-year increase of 27.4%.

According to a press release, cumulative net collections from January to September totaled NT$2.95 trillion, an increase of NT$154.7 billion year-on-year, reflecting a growth of 5.5%, per CNA. The cumulative net collections for the first nine months accounted for 112.7% of the allocated budget and 91.1% of the annual budget, according to Anue.

Among the major tax categories, net collections for September showed the highest year-on-year increases in corporate income tax (NT$72.7 billion), business tax (NT$7.6 billion), and securities transaction tax (NT$4.7 billion).

When comparing net collections for the first nine months of this year with the same period last year, the securities transaction tax increased by NT$76 billion, comprehensive income tax by NT$57.3 billion, and business tax by NT$44.5 billion. However, corporate income tax decreased by NT$59.2 billion.