Domestic investors saw revenue from overseas stocks, leading to approximately 5 trillion won in tax collection last month compared to the same month last year.
According to the 'May national tax revenue status' announced by the Ministry of Economy and Finance on the 30th, last month's national tax revenue was 30.1 trillion won, an increase of 4.7 trillion won from May last year.
The increase was mostly due to income tax. With the rise in overseas stock reporting, capital gains tax increased by 1.6 trillion won compared to the previous year. Additionally, due to the increase in final reporting and payment from last year, comprehensive income tax also rose by 500 billion won.
Corporate tax increased by 1.4 trillion won due to improved corporate performance last year, along with an increase in installment payments for final reports from small to medium-sized corporations.
Transportation, energy, and environmental taxes increased by 200 billion won due to the restoration of the fuel tax elasticity rate, while the security transaction tax decreased by 200 billion won as transaction amounts fell.
The cumulative national tax revenue from January to May was 172.3 trillion won, which is 21.3 trillion won more than the same period last year. The progress rate compared to the budget is 45.1%. This is similar to last year's progress rate (44.9%) but slightly lower than the recent five-year average (46.2%). The current year's progress rate is based on the main budget, while last year's and the recent five-year tax revenue progress rates are based on the settlement of accounts.
Cho Moon-kyun, head of the Tax Analysis Division at the Ministry of Economy and Finance, noted that there remains uncertainty as the direction of U.S. trade policy and the recovery of domestic consumption and asset markets have not yet become visible, adding, 'We plan to recalculate considering the tax revenue conditions and performance in September of this year.'