Korea, Rep. | Tax revenue (current LCU)

Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source
Korea, Rep. | Tax revenue (current LCU)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 476000000000
1973 579000000000
1974 915000000000
1975 1393000000000
1976 2093000000000
1977 2630000000000
1978 3661000000000
1979 4778000000000
1980 5825000000000
1981 7278000000000
1982 8419000000000
1983 10077000000000
1984 10920000000000
1985 11897000000000
1986 13634000000000
1987 16376000000000
1988 19526000000000
1989 21282000000000
1990 26913000000000
1991 30397000000000
1992 35333000000000
1993 39397000000000
1994 47261000000000
1995 56774000000000
1996 64961000000000
1997 69928000000000
1998 67797746000000
1999 75658019000000
2000 92934652000000
2001 95792820000000
2002 1.0396776E+14
2003 1.14664221E+14
2004 1.17795747E+14
2005 1.274657E+14
2006 1.380443E+14
2007 1.61459122E+14
2008 1.6730599E+14
2009 1.64541586E+14
2010 1.77718345E+14
2011 1.92381242E+14
2012 2.02733E+14
2013 2.04571E+14
2014 2.0694994233074E+14
2015 2.1816471741685E+14
2016 2.4339498518662E+14
2017 2.6606276594289E+14
2018 2.9491048632299E+14
2019 2.9251536910591E+14
2020 2.8841632132172E+14
2021 3.4811568440413E+14
2022

Korea, Rep. | Tax revenue (current LCU)

Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source