Tax take falls 1.3 trillion won in February year on year

Home > Business > Economy

print dictionary print

Tax take falls 1.3 trillion won in February year on year

Korea’s tax revenue totalled 12.1 trillion won ($10.6 billion) in February, down 1.3 trillion won from a year earlier, the Finance Ministry said Wednesday.

Income tax revenue amounted to 8.4 trillion won in February, up 300 billion won from a year earlier, in line with a rise in wages paid to workers.

Yet dues collected by companies fell 100 billion won on year to reach 1 trillion won, the ministry said.

In the first two months of this year, state tax earnings reached 49.2 trillion won, down 800 billion won from a year earlier.

Korea posted a budget surplus for the fourth consecutive year in the 2018 fiscal year as tax revenue rose sharply on a rise in corporate earnings.

The gross revenue that the government brought in last year came to 385 trillion won, while its expenditures totaled 364.5 trillion won.


Yonhap

More in Economy

Hangeoleum model compromise is achieved for minbak

On the campaign trail

Online courses get failing grades from tech students

Help after the rains

Plush protest

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now