SEOUL, Sept. 9 (Xinhua) -- South Korea's tax revenue grew for the first seven months of this year amid an economic recovery from the COVID-19 pandemic, the finance ministry said Thursday.
The government's tax revenue amounted to 223.7 trillion won (191.1 billion U.S. dollars) in the January-July period, up 55.1 trillion won (47 billion U.S. dollars) compared to the same period of last year, according to the Ministry of Economy and Finance.
It came as the economic recovery raised the corporate tax and the value-added tax (VAT) incomes.
The corporate tax income rose 10.9 trillion won (9.3 billion U.S. dollars) to 41.7 trillion won (35.6 billion U.S. dollars), and the value-added tax (VAT) income went up 9 trillion won (7.7 billion U.S. dollars) to 57.3 trillion won (49 billion U.S. dollars).
The capital gains tax income increased 15 trillion won (12.8 billion U.S. dollars) during the seven-month period due to a boom in the stock and property markets.
In July alone, the tax revenue gained 6.3 trillion won (5.4 billion U.S. dollars) over the year to 41.9 trillion won (35.8 billion U.S. dollars) despite the COVID-19 resurgence here.
The government's gross income, including the non-tax revenue and the national fund income, came to 356.9 trillion won (305 billion U.S. dollars) during the January-July period, up 76.5 trillion won (65.4 billion U.S. dollars) from a year earlier.
The gross expenditure advanced 21.6 trillion won (18.5 billion U.S. dollars) to 377.6 trillion won (322.7 billion U.S. dollars) in the seven-month period.
In the latest tally, the country reported 2,049 more cases of COVID-19 for the past 24 hours, lifting the total number of infections to 267,470. The daily caseload stayed above 1,000 for 65 straight days. Enditem
