Tax revenue up $6 bil. in July on higher wages, brisk stock trading

Korea's tax revenue increased by $6 billion in July, driven by higher wages, brisk stock trading, and increased housing transactions, according to data released by the Ministry of Finance and Economy. Income tax revenue rose by 1.8 trillion won to 13.6 trillion won, while securities transaction tax collection increased by 1.1 trillion won to 1.4 trillion won, attributed to the country's bullish securities markets.

Value-added tax revenue also grew by 3.2 trillion won to 24.6 trillion won due to a rise in imports. For the January-July period, Seoul's tax earnings totaled 274 trillion won, marking a significant 41.4 trillion won increase compared to the same period last year.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.