Daejeon City Reports 12.6% Increase in Local Tax Revenue in First Half of This Year Compared to Previous Year

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City collected 1.2717 trillion won in local taxes in the first half of this year. The amount collected increased by 142.2 billion won (12.6%) compared to the first half of last year (1.1295 trillion won).

The city has set a local tax budget of 2.4832 trillion won for this year, and the amount collected as of the first half accounts for 51.2% of the total.

According to the city on the 18th, local consumption tax increased by 96.9 billion won, local income tax by 43.1 billion won, and other local taxes such as acquisition tax by 2.2 billion won in the first half of this year.

Among the total local tax revenue, the city collected 1.1837 trillion won, accounting for 93.1% of the total, while the five autonomous districts collected 88 billion won, accounting for 6.9% of the total.

The city analyzes that the increase in local taxes in the first half of this year was largely due to the rise in local consumption tax caused by the recovery of private consumption and the increase in value-added tax due to inflation, as well as the increase in corporate tax.

However, the city added a caveat that the local tax revenue conditions in the second half are uncertain for some tax items due to a decrease in automobile tax for mileage caused by the reduction of fuel tax and a decrease in real estate-related acquisition tax due to the contraction of real estate transactions.

A city official said, “The city will continue to do its best to secure stable financial resources.”

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