Samsung Electronics, SK hynix's corporate tax tops $8.1 bil. in H1
Corporate taxes paid by Samsung Electronics Co. and SK hynix Inc. totaled a combined 11.2 trillion won ($8.1 billion) in the first half of this year amid the recent semiconductor supercycle, financial data showed Sunday. Samsung Electronics paid 3.99 trillion won in corporate taxes and SK hynix paid 7.22 trillion won in the first half, according to data from the Repository of Korea's Corporate…
In the first half of 2021, corporate taxes paid by Samsung Electronics Co. and SK hynix Inc. reached a combined total of 11.2 trillion won, equivalent to $8.1 billion, according to financial data released on Sunday. Samsung Electronics contributed 3.99 trillion won in corporate taxes, while SK hynix paid 7.22 trillion won, as reported by the Repository of Korea's Corporate Filings, a database maintained by the Financial Supervisory Service.
The combined corporate tax payments for the two companies surged by 167 percent compared to the same period in the previous year, marking the second-highest first-half total ever recorded. This figure followed a record 15.63 trillion won paid by the companies in the first half of 2019, fueled by their record-breaking profits during a memory chip boom in 2018.
Typically, companies file corporate taxes in March for the preceding fiscal year, which ends in December, and in August for their interim first-half profits. Analysts anticipate that Samsung Electronics and SK hynix's corporate tax payments will continue to rise further, given the companies' first-half operating profits of 146.7 trillion won and 98.2 trillion won, respectively.
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