Hit by the global economic downturn, Taiwan's tax revenues in 2009 posted the largest annual decline in the country's history, the Ministry of Finance (MOF) reported Monday. The central government collected NT$1.52 trillion (US$47.8 billion) in tax revenues in 2009, down NT$241.5 billion, or 13.7 percent from the previous year, the statistics show. The MOF said that nearly 80 percent of the decreased revenue was caused by the global economic slump, while about 20 percent was the result of tax cuts. Among the tax revenue categories showing record declines were corporate income tax revenue, which fell NT$112.7 billion, or 25.3 percent; consolidated personal income tax revenue, which fell NT$83.3 billion, or 21.4 percent; and business turnover tax revenue, which fell NT$27.4 billion, or 11.2 percent. Only a few tax categories posted revenue gains, with stock transaction tax revenues the biggest gainer, increasing 16.6 percent to NT$105.7 billion for 2009. Excise tax revenues, which have surpassed NT$10 billion for each of the past seven months, increased by 0.8 percent to NT$127.7 billion in 2009. The consolidated tax revenue accounted for 85.1 percent of the NT$1.784 trillion in revenues budgeted by the central and local governments, the lowest rate for any year in recorded history. Lin Li-chen, the ministry's statistics chief, said the central government has budgeted NT$1.126 trillion in tax revenue for the 2010 fiscal year, down NT$140.9 billion from the previous year, with the budgeted income tax revenue reduced the most, at NT$99.6 billion. Local governments have yet to budget projected revenues. 