Korea, Rep. | Taxes on income, profits and capital gains (% of total taxes)

Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation. 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. | Taxes on income, profits and capital gains (% of total taxes)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 33.40336134
1973 30.05181347
1974 30.16393443
1975 24.69490309
1976 28.76254181
1977 27.98479087
1978 28.48948375
1979 28.90330682
1980 25.81974249
1981 26.90299533
1982 27.99619907
1983 25.89064206
1984 26.25457875
1985 29.20063882
1986 29.11104591
1987 32.33390327
1988 35.05070163
1989 41.65022084
1990 39.54594434
1991 36.9608843
1992 39.8239606
1993 39.71622205
1994 39.46594444
1995 39.29439532
1996 37.15613984
1997 34.73858826
1998 41.26230391
1999 33.33427089
2000 38.0776828
2001 37.20322358
2002 36.93803156
2003 40.48341112
2004 40.84387359
2005 42.72208131
2006 43.72980268
2007 46.00131047
2008 45.13264528
2009 42.34471096
2010 42.04972312
2011 45.30614476
2012 46.52725506
2013 46.11518739
2014 47.90469883
2015 49.939217
2016 50.67776525
2017 51.63672348
2018 54.36586963
2019 54.5152037
2020 53.36686859
2021 55.01298619
2022

Korea, Rep. | Taxes on income, profits and capital gains (% of total taxes)

Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation. 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