SEOUL, Nov. 14 (Xinhua) -- South Korea's tax revenue fell in the first nine months of this year on the back of higher corporate tax benefits, government data showed Thursday.
Tax revenue came to 255.3 trillion won (181.4 billion U.S. dollars) in the January-September period, down 11.3 trillion won (8 billion dollars) compared to the same period of last year, according to the Ministry of Economy and Finance.
Corporate tax collection dived 17.4 trillion won (12.4 billion dollars) in the cited period on the increased tax benefits for companies.
Income tax revenue gained 400 billion won (284.2 million dollars), and value-added tax revenue expanded 5.7 trillion won (4.1 billion dollars).
Aggregate revenue, including tax and non-tax revenues, increased 3.1 trillion won (2.2 billion dollars) to 439.4 trillion won (312.2 billion dollars) in the nine-month period.
Total expenditure mounted 24.8 trillion won (17.6 billion dollars) to 492.3 trillion won (349.8 billion dollars).
The managed fiscal balance, excluding social security fund, recorded a deficit of 91.5 trillion won (65 billion dollars) in the first nine months of 2024.
The central government's debt stood at 1,148.6 trillion won (816.2 billion dollars) at the end of September, down 18.7 trillion won (13.3 billion dollars) from a month earlier. ■
