General account tax revenues in August plunged 33.5 percent to ¥2.467 trillion compared with the previous year, the Finance Ministry said Thursday, citing steep drops in corporate profits and incomes amid the recession.

Corporate tax refunds exceeded revenues by ¥332.76 billion in August, the first time this has occurred since 1960, which is as far back as the ministry has checked, an official said.

Meanwhile, a cut in overtime wages cut personal income tax revenues 12.5 percent to ¥1.015 trillion.

Liquor tax revenues rose 2.5 percent to ¥133.86 billion and tobacco tax revenues gained 1.8 percent to ¥71.70 billion.