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THE INVESTOR
October 23, 2018
Big Reunion

Economy

Korea’s tax revenue rises sharply

  • PUBLISHED :December 12, 2017 - 10:25
  • UPDATED :December 12, 2017 - 10:25
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[THE INVESTOR] Korea’s national tax revenue continued to increase in the first 10 months of the year amid signs of an economic recovery, the Finance Ministry said on Dec. 12.

It collected 236.9 trillion won (US$216.90 billion) in taxes in the January-October period, up 21.2 trillion won from the same period last year, according to the ministry.

The amount is equal to 94.4 percent of this year‘s tax revenue target of 251.1 trillion won.

Revenue from value added tax rose 5.6 trillion won on-year to 65.8 trillion won, and income tax revenue gained 5 trillion won to reach 60.4 trillion won, the latest report said.

The corporate tax was 56.7 trillion won through October, up 7.1 trillion won from a year earlier.

By Alex Lee and newswires (alexlee@heraldcorp.com)
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