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Korean households' tax burden rises at faster pace than income Updated: 2015-02-10 06:28:23 KST


The tax burden for Korean households outpaced income gains by nearly double in the first three quarters last year.
Data from Statistics Korea shows the average monthly income of a household with more than two members stood at around 4-thousand U.S. dollars, up more than 3-and-a-half percent from a year ago.
But households' average monthly spending on taxes rose almost six percent to around 140 dollars.
The trend of households' tax burden increasing at a faster pace than their income has been an ongoing issue since 2010.
And because tax expenditures exclude indirect taxes like value-added dues that households pay as they spend money to buy products, the actual tax burden on them is heavier.
It's no surprise then that national income tax revenues, collected mostly from ordinary citizens, are on the rise.
Korea's national income tax revenue has risen for the past two years since 2012, while corporate tax revenues were on a downward trend during the period.
Although the government points to the sluggish economy at home and abroad for the low corporate tax revenues, experts say it should seek ways to
create tax equity.
Hwang Ji-hye, Arirang News.
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