SEOUL, Sept. 11 (Xinhua) -- South Korea's tax revenue rose for the first seven months of this year due to an increase in both corporate and income taxes, government data showed Thursday.
Tax revenue ran to 232.6 trillion won (167.4 billion U.S. dollars) in the January-July period, up 23.8 trillion won (17.1 billion dollars) compared to the same period of last year, according to the Ministry of Economy and Finance.
The collection of corporate and income taxes swelled 14.5 trillion won (10.4 billion dollars) and 9.0 trillion won (6.5 billion dollars) each, but value-added tax revenue reduced 1.5 trillion won (1.1 billion dollars) in the cited period.
Aggregate revenue, including tax and non-tax revenue, totaled 385.0 trillion won (276.0 billion dollars) during the January-July period, up 27.8 trillion won (20.0 billion dollars) from a year earlier.
Total expenditure grew 33.0 trillion won (23.7 billion dollars) over the year to 442.5 trillion won (318.4 billion dollars) in the first seven months of this year.
The managed fiscal balance, excluding social security fund, recorded a deficit of 86.8 trillion won (62.5 billion dollars) in the January-July period.
The central government's debt stood at 1,240.5 trillion won (892.5 billion dollars) at the end of July, up 22.1 trillion won (15.9 billion dollars) from a month earlier. ■
