SEOUL, May 15 (Xinhua) -- South Korea's tax revenue rose for the first three months of this year on higher corporate and income taxes, government data showed Thursday.
Tax revenue amounted to 93.3 trillion won (66.9 billion U.S. dollars) in the January-March period, up 8.4 trillion won (6.0 billion dollars) compared to the same period of 2024, according to the Ministry of Economy and Finance.
The collection of corporate and income taxes expanded 6.5 trillion won (4.7 billion dollars) and 2.8 trillion won (2.0 billion dollars) each, but value-added tax revenue declined 1.5 trillion won (1.1 billion dollars) in the cited month.
Aggregate revenue, including tax and non-tax revenue, totaled 159.9 trillion won (114.6 billion dollars) during the January-March period, up 12.5 trillion won (8.9 billion dollars) from a year earlier.
Total expenditure reduced 2.2 trillion won (1.6 billion dollars) over the year to 210.0 trillion won (150.5 billion dollars) in the first three months of this year.
The managed fiscal balance, excluding social security fund, recorded a deficit of 61.3 trillion won (43.9 billion dollars) in the January-March period.
The central government's debt stood at 1,175.9 trillion won (842.8 billion dollars) at the end of March, down 4.6 trillion won (3.3 billion dollars) from a month earlier.
