Seongnam City, Local Taxes of 1.3543 Trillion Won in the First Half of This Year... Up 50.8% Compared to the Same Period Last Year
[Asia Economy (Seongnam) = Reporter Lee Young-gyu] Seongnam City in Gyeonggi Province collected 1.3543 trillion won in local taxes in the first half of this year. This is an increase of 456.3 billion won (50.8%) from 898 billion won during the same period last year. It is the largest amount among the 31 basic local governments in Gyeonggi Province.
The local governments with the largest local tax revenues after Seongnam City are Hwaseong City (1.2667 trillion won), Suwon City (1.1238 trillion won), and Yongin City (1.0857 trillion won) in order.
A city official explained, "Acquisition tax increased significantly due to the sale of large apartment complexes in Daejang-dong and Baekhyeon-dong and the increase in real estate transaction volume, and local income tax also increased due to operating profits of companies related to mobile, gaming, and platforms, causing a sharp rise in local tax revenue."
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The city expects that if the current trend continues, the total local tax revenue for this year will reach 2.5676 trillion won, which is 330.6 billion won (14.8%) more than the original target of 2.237 trillion won.
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