[National Tax Statistics 2nd Release] 7,043,000 Individual Business Owners Last Year... 4.6% Increase YoY

[Asia Economy Reporter Kwangho Lee] The number of individual business owners increased by nearly 5% last year. By business type, general business owners increased while simplified business owners showed a declining trend.

On the 12th, the National Tax Service (NTS) released the second early disclosure of tax statistics containing this information.

The NTS provides statistics that can be produced throughout the year in advance for prompt use of related information before publishing the annual National Tax Statistical Yearbook every December.

This disclosure includes a total of 86 statistical tables, such as the performance of asset tracking investigations on high-amount tax delinquents. In July, 95 statistical tables were disclosed in the first round. The total of 181 statistical tables disclosed early this year is 11 more than last year's early disclosure (170 tables).

By category (item), there are 20 tables on corporate tax, 16 on value-added tax, 11 on consumption tax, 8 on electronic tax sources, 8 on international taxation, 5 on general (collection), 5 on tax audits, 4 on inheritance and gift tax, 4 on appeals, 2 on electronic filing, and 3 on student loan repayments.

The statistical tables can be accessed on the National Tax Statistics website, the NTS website, and the National Statistical Portal (KOSIS).

As of the end of last year, the number of individual business owners was 7,043,000, an increase of 4.6% compared to the previous year. Although the rate of increase has varied over the past five years, it has been steadily rising.

Individual business owners are classified into general business owners and simplified business owners based on sales amount, and there are also tax-exempt business owners who do not pay value-added tax.

If a business owner's annual sales amount is 48 million KRW or more, they are classified as a general business owner; if less, they are classified as a simplified business owner.

The proportion of general business owners among individual business owners was 62.0%, an increase of 2.4 percentage points from 59.5% in 2015.

During the same period, the proportion of simplified business owners decreased by 5.6 percentage points, while tax-exempt business owners increased by 3.2 percentage points.

This content was produced with the assistance of AI translation services.