Record Taxes Collected Last Year

  • By Choi Kyu-min

    January 11, 2019 13:13

    The government collected record tax revenues last year, exceeding its annual target in November. The year's total is estimated to be some W11 trillion over the target (US$1=W1,120).

    According to the Finance Ministry on Thursday, the government collected W270.9 trillion in taxes from January to November, up W28 trillion on-year and 4.4 percent more than the target.

    A ministry official said, "Taxes for capital gains and securities transactions increased significantly amid stringent measures to rein in the housing market, leading to record tax revenues overall."

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