The government has collected some 26 trillion won more in tax revenue in the first ten months of this year compared with the same period last year.

A monthly update of the government’s fiscal status, released by the Finance Ministry on Tuesday, showed that the national tax revenue between January and October stood at 263-point-four trillion won, 26-point-five trillion won more than a year earlier. 

The tax revenue progress rate, or the actual rate of taxes collected to the target revenue, came to 98-point-two percent in October, up three-point-nine percentage points on-year.

The ministry attributed the rise to an increase in income tax, which surged by 600 billion won on-year to six trillion won during the cited period thanks to a rise in nominal wages.