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Tax Revenue Through October Up 15 Trillion Won

Written: 2015-12-22 13:29:33Updated: 2015-12-22 14:40:08

Tax Revenue Through October Up 15 Trillion Won

Tax revenue collected this year through October has increased by 15 trillion won from last year.
 
The Finance Ministry on Tuesday released monthly fiscal data showing that national tax revenue from January to October stood at 192-point-five trillion won, some 14-point-nine trillion won more than last year.
 
Actual tax revenue compared to the government's goal recorded 89-point-two percent through October. A full 100 percent is expected by the end of the year, which will be the first time in four years.
 
The ministry noted that it had collected a substantial amount of income tax resulting from increased real estate transactions.
 
This year, six-point-seven trillion won more has been gathered in income tax revenue and two-point-eight trillion won more in corporate tax. Other taxes such as the individual consumption tax imposed on cigarettes have risen by three-point-nine trillion won.
 
However, the fiscal balance, excluding social security funds such as the national pension, is running a 32-point-five trillion won deficit. The fiscal deficit has widened by six-point-nine trillion won compared to last year.

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