Gov't's Tax Revenue in January Rise On-Year

Write : 2018-03-13 18:31:05 Update : 2018-03-13 18:49:38

Gov't's Tax Revenue in January Rise On-Year

The government’s overall tax revenue in January increased from a year earlier. 

According to the Ministry of Strategy and Finance on Tuesday, the government collected 36-point-six trillion won worth of national tax revenue in January, up by two-point-seven trillion won from a year earlier. 

That's equivalent to 13-point-six percent of the government's target tax revenue for 2018, zero-point-one percentage points higher than the same month last year. 

The increase in the collection of value-added and income taxes is cited as the reason for the rise in the January tax revenues.

VAT revenues got a boost from increased consumption in the second half of last year compared with the latter half of 2016. 

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