Last Year, National Tax Service Revenue 335.7 Trillion KRW... 12.6% Decrease Compared to Previous Year

National Tax Service, Q1 National Tax Statistics
Namdaemun Tax Office Tops with 20.5 Trillion Won

Last year, the National Tax Service's tax revenue amounted to 335.7 trillion won, a decrease of 12.6% compared to the same period the previous year.

The National Tax Service released the 2024 first quarter national tax statistics containing this information.

The first quarter national tax statistics consist of a total of 77 items. They are composed of general and collection (38 items), liquor tax (4 items), consumption tax (4 items), and earned income tax credit (11 items), among others.

The proportion of the National Tax Service's tax revenue to the total national tax was 97.6%, an increase of 0.6 percentage points compared to 97.0% in 2022. The total national tax consists of the National Tax Service's tax revenue, customs duties, and the rural special tax on customs and local taxes.

Looking at the tax revenue status of 133 tax offices nationwide last year, Namdaemun Tax Office ranked first with 20.5 trillion won. Namdaemun Tax Office is a tax office with a high proportion (55.1%) of corporate tax, amounting to 11.3 trillion won. This represents a 2.0% (400 billion won) increase compared to the 20.1 trillion won tax revenue of the tax office in 2022.

In 2023, tax revenue by category was recorded as income tax 115.8 trillion won (34.5%), corporate tax 80.4 trillion won (23.9%), and value-added tax 73.8 trillion won (22.0%), in that order. Other taxes include inheritance and gift tax at 14.6 trillion won, transportation, energy, and environment tax at 10.8 trillion won, and individual consumption tax at 8.8 trillion won.

The amount of cash settlement for overdue tax payments in 2023 was 11.7 trillion won, an increase of 300 billion won (2.6%) compared to 11.4 trillion won in 2022. As of the end of 2023, the amount of overdue national taxes under settlement was 17.7 trillion won, an increase of 2.1 trillion won (13.5%) compared to 15.6 trillion won in 2022.

The results of property tracing investigations on high-amount tax delinquents in 2023 amounted to 2.88 trillion won, an increase of 320 billion won (12.5%) compared to 2.56 trillion won in 2022.

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