S. Korea's tax revenue down US$ 680 mil. y/y in Q1
- 5 years ago
1분기 국세, 전년보다 8천억 원 덜 걷혀
South Korea’s tax revenues in the first quarter fell to 66 billion U.S. dollars a decline of 680 millon dollars.
The finance ministry attributed the fall to lower revenue from value added tax, which dropped by around 760 million dollars.
Transport tax revenue also fell by 340 million dollars on lower fuel taxes.
Compared to the goal for the year, the government has collected 26-point-4 percent of it a decline from the same time last year of around 3 percentage points.
South Korea’s tax revenues in the first quarter fell to 66 billion U.S. dollars a decline of 680 millon dollars.
The finance ministry attributed the fall to lower revenue from value added tax, which dropped by around 760 million dollars.
Transport tax revenue also fell by 340 million dollars on lower fuel taxes.
Compared to the goal for the year, the government has collected 26-point-4 percent of it a decline from the same time last year of around 3 percentage points.