Tax Revenue Estimated to Hit Record High in 2026 on Chip Boom
4 Articles
4 Articles
(Seoul = Yonhap News) Reporter Kim Yeon-jeong = On the 30th, People Power Party lawmakers belonging to the National Assembly's Finance and Economy Committee [claimed] that the government re-estimated this year's national tax revenue, bringing the total national tax to 478.6 trillion...
The Ministry of Finance and Economy has re-estimated that this year's national tax revenue will reach 478.6 trillion won, an increase of 88.4 trillion won from the original budget, driven by improved performance of semiconductor companies and a booming stock market. Of the secured surplus tax revenue, 56.2 trillion won is scheduled to be set aside as a future response fund.
Korea's tax revenue is estimated to reach a record 478.6 trillion won ($353.7 billion) this year, driven by the semiconductor supercycle, government data showed Wednesday. The figure marks an increase of 104.7 trillion won from the previous year's 373.9 trillion won, according to the Ministry of Finance and Economy. The previous record was 395.9 trillion won in 2022. The revised estimate is 88.4 trillion won higher than the original projection u…
Driven by a semiconductor boom and a revitalized stock market, "surplus tax revenue" collected this year is projected to reach a record high of 63 trillion won. This year's actual tax revenue is also forecast to reach the all-time high of 478 trillion won. The key issue moving forward is where to spend this excess revenue. With the establishment of a Future Response Fund expected to result in next year's local government grants increasing less t…
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