SEOUL, July 19 (Xinhua) -- Tax revenue in South Korea rose last year on brisk corporate earnings and higher property price that led to an increased collection of corporate income tax and capital gains tax, tax service data showed on Thursday.
The National Tax Service collected 255.6 trillion won (225.9 billion U.S. dollars) in tax in 2017, up 22.3 trillion won (19.7 billion U.S. dollars) from the previous year.
The collection of real estate holding tax jumped 27.7 percent on higher property price. The officially appraised price of apartment rose 4.44 percent last year nationwide, keeping an upward trend for the fourth consecutive year.
The collection of capital gains tax in the real estate transactions gained 10.6 percent on larger trading of home.
The corporate income tax reached 59.2 trillion won (52.3 billion U.S. dollars) in 2017, up 7.1 trillion won (6.3 billion U.S. dollars) from the previous year on brisk corporate earnings.
Value added tax collection rose to 67.1 trillion won (59.3 billion U.S. dollars), while income tax gained to 76.8 trillion won (67.9 billion U.S. dollars).
