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Tax revenue tallied at 16.5 tln won in June

All Headlines 09:00 August 10, 2018

SEJONG, Aug. 10 (Yonhap) -- South Korea's tax revenue was tallied at 16.5 trillion won (US$14.8 billion) in June, up 2.4 trillion won from a year earlier, data showed Friday.

Income tax revenue amounted to 6.6 trillion won in June, up 0.7 trillion won from a year earlier, due to a rise in wage and property transactions.

Dues collected by companies also increased 600 billion won on-year to reach 2.6 trillion won in the one-month period, the ministry said.

The value added tax revenue was 2.3 trillion won, up 500 billion won from a year earlier.

In the first six months of the year, state tax earnings reached 157.2 trillion won, up 19.3 trillion won from a year earlier.

South Korea posted a budget surplus for the third year in a row in fiscal 2017 as its tax revenue rose sharply on increased corporate and value added taxes.

The gross revenue that the government brought in last year came to 359.5 trillion won, while expenditures totaled 342.9 trillion won.

Fiscal spending was tallied at 174.1 trillion won in the January-June period, 11.5 trillion won more spent than earlier planned, the data showed.

Tax revenue tallied at 16.5 tln won in June - 1

sam@yna.co.kr
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