[THE INVESTOR] South Korea’s tax revenue increased by nearly 20 trillion won (US$18.20 billion) in the first six months of the year, the government said on Aug. 10.

In the January-June period, the government collected 125.6 trillion won, up from 106.6 trillion won tallied over the same period last year, according to the Ministry of Strategy and Finance.



The six-month tally represents 56.3 percent of the government’s annual target of 222.9 trillion won.

Corporate tax gained 5.9 trillion won from a year earlier to 28.4 trillion won in the first six months of the year, while the revenue from value added taxes came to 30.7 trillion won, up 5.8 trillion won over the cited period, the ministry said.

Income tax also added 4.9 trillion won from a year earlier to 35.5 trillion won on a rise in real estate transactions.
With a sharp rise in tax revenue, overall government income also climbed to 207.1 trillion won from 186.4 trillion won a year earlier.

(theinvestor@heraldcorp.com)