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S. Korea's tax revenue rises in January-October

Source: Xinhua| 2025-12-11 11:04:30|Editor: huaxia

SEOUL, Dec. 11 (Xinhua) -- South Korea's tax revenue rose for the first 10 months of this year due to an expansion in both corporate and income taxes, government data showed Thursday.

Tax revenue ran into 330.7 trillion won (about 224.81 billion U.S. dollars) in the January-October period, up 37 trillion won from a year earlier, according to the Ministry of Economy and Finance.

The collection of corporate and income taxes gained 22.2 trillion won and 11.1 trillion won each, while value-added tax revenue added 300 billion won in the cited period.

Aggregate revenue, including tax and non-tax revenue, totaled 540.8 trillion won during the January-October period, up 42.1 trillion won from a year earlier.

Total expenditure grew 55.6 trillion won over the year to 584.8 trillion won in the first 10 months of this year.

The managed fiscal balance, excluding the social security fund, logged a deficit of 86.1 trillion won in the January-October period.

The central government's debt amounted to 1,275.3 trillion won at the end of October, up 16.3 trillion won from a month earlier.

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