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S. Korea’s Tax Revenue Sees Surge Through August
(MENAFN) South Korea's tax income surged in the first eight months of 2025, driven by higher corporate and income tax collections, according to official figures released Thursday by the Ministry of Economy and Finance.
From January to August, national tax revenue totaled 260.8 trillion won ($183.9 billion), marking a year-on-year increase of 28.6 trillion won ($20.2 billion).
The uptick was fueled by strong gains in two key categories: corporate taxes rose by 17.8 trillion won ($12.6 billion), while income taxes climbed 9.6 trillion won ($6.8 billion). However, the collection from value-added tax fell by 1.2 trillion won ($846 million) during the same period.
Total government income — which includes both tax and non-tax revenue — reached 431.7 trillion won ($304.3 billion), reflecting a rise of 35.0 trillion won ($24.7 billion) from the previous year.
On the spending side, the government disbursed 485.4 trillion won ($342.2 billion) between January and August, an increase of 38.4 trillion won ($27.1 billion) compared to the same period last year.
As a result, the managed fiscal balance, which excludes the social security fund, posted a deficit of 88.3 trillion won ($62.3 billion) for the eight-month span.
Meanwhile, the central government’s debt stood at 1,260.9 trillion won ($888.9 billion) as of the end of August — up 20.4 trillion won ($14.4 billion) from July.
From January to August, national tax revenue totaled 260.8 trillion won ($183.9 billion), marking a year-on-year increase of 28.6 trillion won ($20.2 billion).
The uptick was fueled by strong gains in two key categories: corporate taxes rose by 17.8 trillion won ($12.6 billion), while income taxes climbed 9.6 trillion won ($6.8 billion). However, the collection from value-added tax fell by 1.2 trillion won ($846 million) during the same period.
Total government income — which includes both tax and non-tax revenue — reached 431.7 trillion won ($304.3 billion), reflecting a rise of 35.0 trillion won ($24.7 billion) from the previous year.
On the spending side, the government disbursed 485.4 trillion won ($342.2 billion) between January and August, an increase of 38.4 trillion won ($27.1 billion) compared to the same period last year.
As a result, the managed fiscal balance, which excludes the social security fund, posted a deficit of 88.3 trillion won ($62.3 billion) for the eight-month span.
Meanwhile, the central government’s debt stood at 1,260.9 trillion won ($888.9 billion) as of the end of August — up 20.4 trillion won ($14.4 billion) from July.
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