Korea's Corporate Tax Revenue to Top $149 Bil. in 2027 as Chip Boom Lifts Profits
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4 Articles
Korea's corporate tax revenue to top $149 bil. in 2027 as chip boom lifts profits
Korea’s corporate tax revenue is expected to top 200 trillion won ($149 billion) for the first time next year, as a semiconductor supercycle sends company profits soaring. It would also mark the first time since 2012 that corporate tax receipts overtake income taxes, according to government data, Monday. The windfall is putting a spotlight on a defining feature of the country’s economy: its heavy reliance on semiconductors for both exports and g…
Next year, corporate tax revenue is expected to surpass income tax revenue for the first time in 15 years. This result is based on forecasts that corporate tax collections will exceed 200 trillion won for the first time in history, driven by the semiconductor superboom. According to the Ministry of Finance and Economy's national tax revenue budget proposal released on the 14th, corporate tax revenue is projected to reach 216.7 trillion won next …
(Sejong = Yonhap News) Reporter Song Jeong-eun = Corporate tax revenue is projected to surpass income tax for the first time in 15 years next year.
While the semiconductor boom is rapidly boosting corporate profits and tax revenues, the pace at which this growth is spreading to wages and domestic investment is falling short. Critics point out that as the fruits of semiconductor-centered growth fail to spread throughout the economy, the gap between export and growth indicators and the income felt by households is widening. According to the Ministry of Finance and Economy's national tax reve…
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