SEOUL, Oct. 16 (Xinhua) -- South Korea's tax revenue rose for the first eight months of this year due to an increase in both corporate and income taxes, government data showed Thursday.
Tax revenue stood at 260.8 trillion won (183.9 billion U.S. dollars) in the January-August period, up 28.6 trillion won (20.2 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 17.8 trillion won (12.6 billion dollars) and 9.6 trillion won (6.8 billion dollars) each, but value-added tax revenue reduced 1.2 trillion won (846 million dollars) in the cited period.
Aggregate revenue, including tax and non-tax revenue, totaled 431.7 trillion won (304.3 billion dollars) during the January-August period, up 35.0 trillion won (24.7 billion dollars) from a year earlier.
Total expenditure grew 38.4 trillion won (27.1 billion dollars) over the year to 485.4 trillion won (342.2 billion dollars) in the first eight months of this year.
The managed fiscal balance, excluding the social security fund, recorded a deficit of 88.3 trillion won (62.3 billion dollars) in the January-August period.
The central government's debt ran to 1,260.9 trillion won (888.9 billion dollars) at the end of August, up 20.4 trillion won (14.4 billion dollars) from a month earlier. ■
