South Korea: Tax revenue
* indicates monthly or quarterly data series
| South Korea |
Tax revenue, percent of GDP |
|---|---|
| Latest value | 18.44 |
| Year | 2022 |
| Measure | percent |
| Data availability | 2012 - 2022 |
| Average | 14.85 |
| Min - Max | 13.16 - 18.44 |
| Source | The World Bank |
The latest value from 2022 is 18.44 percent, an increase from 16.73 percent in 2021. In comparison, the world average is 17.41 percent, based on data from 94 countries. Historically, the average for South Korea from 2012 to 2022 is 14.85 percent. The minimum value, 13.16 percent, was reached in 2015 while the maximum of 18.44 percent was recorded in 2022.
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Definition: 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.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 18.90 | 2023 | percent |
| Government spending, in dollars | 323.69 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -1.60 | 2023 | percent |
| Government debt | 46.90 | 2023 | percent |
| Government expenditure | 118,271.40 | Q1/2025 | billion |
| Long-term interest rate | 2.80 | 3/2025 | percent |
| Tax revenue | 18.44 | 2022 | percent |
| Commercial tax rate | 33.20 | 2019 | percent |
| Tax preparation time | 174 | 2019 | hours |
| Number of taxes | 12 | 2019 | taxes |
| Taxes on goods and services | 16.89 | 2022 | percent |
| Taxes on international trade | 1.40 | 2022 | percent |
| Income and profits taxes | 33.88 | 2022 | percent |
| Foreign aid | -71.54 | 2004 | million U.S. dollars |