The Korea Herald


[Monitor] Proportion of direct taxes surpasses 55%

By Korea Herald

Published : May 8, 2017 - 16:03

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Revenue from direct taxes accounted for a record 55.3 percent of all dues collected last year, the Finance Ministry said Sunday.

Upon the government’s reform of its tax credit rules on income and transfer taxes, the percentage of direct taxes to overall revenue earnings continued to rise for the past three years.

The ministry said the tax earnings reached 230 trillion won ($202.3 billion), excluding taxes on education and rural development.