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S. Korea's Per Capita Tax Burden over 10 Mln Won in 2020

Written: 2021-06-07 09:01:29Updated: 2021-06-07 09:54:00

S. Korea's Per Capita Tax Burden over 10 Mln Won in 2020

Photo : Getty Images Bank

South Korea's per capita tax burden was estimated at over ten million won last year. 
 
According to an analysis of tax data by Rep. Choo Kyung-ho of the main opposition People Power Party(PPP) on Monday, the country's annual tax burden came to an average of ten million and 190-thousand won per person in 2020.
 
The taxes include both central and regional government taxes, as well as other taxes such as contributions to national pension or health insurance.

The per capita tax burden marks an increase of point-seven percent from a year earlier. 

The tax burden of the public totaled 527-point-seven trillion won last year, up point-eight percent on-year. 
 
The ratio of people's overall financial burden to the country's gross domestic product also rose by point-one percentage point on-year to 27-point-four percent last year.

Choo said that under the Moon administration, people's tax burdens as well as national debt are increasing rapidly.

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