S. Korea's Tax Revenue Increases Through August

Write : 2017-10-13 10:06:01 Update : 2017-10-13 10:36:19

S. Korea's Tax Revenue Increases Through August

Strong exports boosted South Korea's national tax revenue in the first eight months of this year over the same period a year ago.

According to a monthly fiscal report by the Finance Ministry on Friday, the government collected 189-point-five trillion won in taxes in the January-August period, up 17-point-one trillion won from the same period last year.

The amount collected is equal to 75-and-a-half percent of this year's tax revenue target, up one-point-four percentage points from a year ago. 

The report said that income tax revenue increased five trillion won to 51-point-seven trillion won, while revenue from value added tax rose three trillion won to 47-point-nine trillion won. 

Corporate tax revenue increased by six trillion won from a year ago to 45-point-seven trillion won. 

The South Korean government posted a surplus of 17-point-four trillion won in the fiscal balance as of August.

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