The Korea Herald


Tax revenue sharply up through Feb.

By Korea Herald

Published : April 11, 2017 - 09:45

    • Link copied

South Korea's national tax revenue continued to rise in the first two months of the year on increased value added taxes and income taxes, the finance ministry said Tuesday.

The government collected a total of 46.2 trillion won ($40.4 billion) in taxes in the January-February period, up 3.6 trillion won from a year earlier, according to the Ministry of Strategy and Finance.

(Yonhap) (Yonhap)

It marked 19.1 percent of the tax revenue of 235.1 trillion won earmarked for 2017, up 0.8 percentage point higher than the same period last year.

The South Korean government has basked in the brisk tax incomes since last year when the total tax revenue reached 242.6 trillion won, exceeding the original target by 9.8 trillion won and increasing by a record 24.7 trillion won from a year earlier.

The value added taxes rose 1.2 trillion won to 14.9 trillion won, and income taxes gained 1.2 trillion won to 15.1 trillion won over the two-month period.

Corporate tax totaled 2.7 trillion won, up 100 billion won from a year earlier. (Yonhap)