[Photo by Kim Yoo-jin]
As of May this year, national tax revenue has nearly reached 200 trillion won, driven by significant increases in income tax and securities transaction tax. This surge has resulted in a revenue progress rate that exceeds the average levels of previous years.
According to the Ministry of Finance's report on the status of national tax revenue for May 2026, the revenue for last month was 35.8 trillion won, an increase of 5.6 trillion won (18.7%) compared to the same month last year.
By category, income tax rose to 31.5 trillion won, up 3.1 trillion won (16.5%) from a year earlier. This increase is attributed to a rise in capital gains tax from overseas stock sales and increased housing transactions, as well as higher employment numbers and total wage payments contributing to the growth in labor income tax and comprehensive income tax.
The securities transaction tax increased by 1 trillion won due to higher trading volumes and the restoration of tax rates, while the special rural tax rose by 1.3 trillion won, benefiting from increased trading volumes on the KOSPI.
Corporate tax saw an increase of 700 billion won, driven by improved corporate performance and higher reported and installment amounts from December closing corporations, along with increased withholding tax on dividends.
Inheritance and gift taxes rose by 300 billion won due to an increase in real estate gifts, while value-added tax decreased by 300 billion won due to increased refunds. Transportation taxes and customs duties also fell by 200 billion won and 100 billion won, respectively.
With the increase in national tax revenue for May, the cumulative national tax revenue from January to May is recorded at 199.9 trillion won, marking an increase of 27.5 trillion won (16.0%) compared to the same period last year. The revenue progress rate stands at 48.1%, surpassing both last year's rate of 46.1% and the recent five-year average of 46.6%.
On a cumulative basis, increases were seen in income tax (+9 trillion won), value-added tax (+4.5 trillion won), securities transaction tax (+4.1 trillion won), and corporate tax (+3.9 trillion won).
According to the Ministry of Finance's report on the status of national tax revenue for May 2026, the revenue for last month was 35.8 trillion won, an increase of 5.6 trillion won (18.7%) compared to the same month last year.
By category, income tax rose to 31.5 trillion won, up 3.1 trillion won (16.5%) from a year earlier. This increase is attributed to a rise in capital gains tax from overseas stock sales and increased housing transactions, as well as higher employment numbers and total wage payments contributing to the growth in labor income tax and comprehensive income tax.
The securities transaction tax increased by 1 trillion won due to higher trading volumes and the restoration of tax rates, while the special rural tax rose by 1.3 trillion won, benefiting from increased trading volumes on the KOSPI.
Corporate tax saw an increase of 700 billion won, driven by improved corporate performance and higher reported and installment amounts from December closing corporations, along with increased withholding tax on dividends.
Inheritance and gift taxes rose by 300 billion won due to an increase in real estate gifts, while value-added tax decreased by 300 billion won due to increased refunds. Transportation taxes and customs duties also fell by 200 billion won and 100 billion won, respectively.
With the increase in national tax revenue for May, the cumulative national tax revenue from January to May is recorded at 199.9 trillion won, marking an increase of 27.5 trillion won (16.0%) compared to the same period last year. The revenue progress rate stands at 48.1%, surpassing both last year's rate of 46.1% and the recent five-year average of 46.6%.
On a cumulative basis, increases were seen in income tax (+9 trillion won), value-added tax (+4.5 trillion won), securities transaction tax (+4.1 trillion won), and corporate tax (+3.9 trillion won).
* This article has been translated by AI.
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