S. Korea's tax revenue up in Feb. amid economic recovery

South Korea's tax revenue rose 1.4 trillion won ($1.1 billion) in February compared to a year earlier as the collection of income and corporate taxes increased amid the economic recovery, the finance ministry said Thursday.

The government collected 20.3 trillion won in taxes in February, compared with 19 trillion won the previous year, according to the Ministry of Economy and Finance.

The tally was lower than an on-year increase of 10.8 trillion won in January, when the government collected more deferred taxes over the COVID-19 pandemic.

But the country has continued to log a surplus of tax revenue as the South Korean economy has been on a recovery track.

The collection of income taxes rose 5.2 trillion won on-year to 17.2 trillion won in the month and that of corporate taxes gained 300 billion won to 1.2 trillion won. (Yonhap)