Tax revenue tallied at 50 trillion won through Feb.
South Korea’s tax revenue was tallied at 49.9 trillion won ($46.7 billion) in the first two months of the year, 3.7 trillion won more than a year earlier, boosted by a rise in income tax, data showed on Tuesday.
Income tax revenue amounted to 16.9 trillion won in the January-february period, up 1.8 trillion won from a year earlier, according to the data compiled by the finance ministry, Yonhap reported.
In February alone, tax earnings reached 13.4 trillion won, one trillion won more than a year ago.
The government collected 2.4 trillion won in corporate taxes, down 300 billion won over the cited period, the latest data showed.
Value added tax revenue was 15.7 trillion won in the first two months of the year, up 800 billion won from a year earlier.
South Korea posted a budget surplus for the third year in a row in fiscal 2017 as its tax revenue rose sharply on increased corporate and value added taxes.
The gross revenue that the government brought in last year came to 359.5 trillion won, while expenditures totaled 342.9 trillion won.
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