Seoul, January 30 (QNA) – South Korea’s tax revenue rose 51.9 trillion won about (US$42 billion) in 2022 from a year earlier on the back of an increased collection of corporate income taxes, coupled with revitalized consumption, the South Korean Finance Ministry said Monday.
South Korea’s News Agency (Yonhap) quoted the South Korean Finance Ministry as saying that the government collected 395.9 trillion won in taxes last year, up 15.1 percent from the 344.1 trillion won tallied in 2021.
The ministry attributed the rise to an increased collection of corporate income taxes, which shot up 47.1 percent, or 33.2 trillion won, to reach 103.6 trillion won.
The collection of income taxes also gathered ground as more people were employed on the back of eased pandemic regulations in 2022, advancing 12.8 percent on-year to 128.7 trillion won. (QNA)
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