Taxes collected by the National Tax Service(NTS) in the first five months of the year decreased by about nine trillion won compared to a year earlier.

According to the NTS’s report to the parliamentary committee on strategy and finance on Monday, the agency collected 147-point-nine trillion won during the cited period, down eight-point-nine trillion won from a year ago.

The progress rate of the tax collection through May marked 41-point-four percent, down five-point-three percentage points on-year.

The collection of value-added tax and interest income tax increased by five-point-four trillion won and one-point six trillion won, respectively, from a year earlier due to a rise in consumption and interest rates. 

However, the collection of corporate taxes and income tax slipped by 15-point-three trillion won and one trillion won, respectively, due to weak corporate performance. 

The NTS vowed various efforts to boost tax revenue by encouraging tax reports and payments and enhancing collections from major tax delinquents.