S. Korea's tax revenues surge on bigger corporate profits
By : Arirang News
Published On: 2019-04-21
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The South Korean finance ministry says tax revenues last year rose for the fourth year in a row, coming to 332-point-6 billion U.S. dollars.
That's an on-year increase of more than 28-point-2 billion dollars.
Last year's tax-to-GDP ratio rose by 1-point-6 percentage points to 21-point-2 percent, the highest since the year 2000.
The government attributed the spike to a boom in semiconductor sales and bigger corporate profits.
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