Tax revenue tallied at W276.6tr through Nov. last year

South Korea's state tax income reached 276.6 trillion won ($234.8 billion) in the first 11 months of last year, 3.3 trillion won less than the previous year, the finance ministry said Wednesday.

Tax revenue was tallied at 16.2 trillion won in November last year, 300 billion won less compared with a year earlier.

Income tax revenue amounted to 10.9 trillion won in November last year, 1 trillion won more than a year earlier, due to a rise in wages.

Dues collected by companies were unchanged at 1.5 trillion won in November last year, the ministry said.

The gross revenue that the government brought in the first 11 months of last year came to 435.4 trillion won, while expenditure totaled 443.3 trillion won.

The deficit was mainly as a result of increased child tax credit and increased earned income tax credit meant to support low-income families, according to the ministry. (Yonhap)