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Assessment and implications of Korea's tax revenue: Comparison with Japan

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  • Assessment and implications of Korea's tax revenue: Comparison with Japan
  • Kim, Seongtae
  • Korea Development Institute


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Title Assessment and implications of Korea's tax revenue: Comparison with Japan
Similar Titles
Material Type Articles
Author(English)

Kim, Seongtae

Publisher

[Sejong, South Korea]:Korea Development Institute

Date 2015-05
Series Title; No KDI feature article / 2015 1st Half
Pages 13
Subject Country Japan(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Holding SSRN

Abstract

The recent sluggishness in Korea's tax revenue is directly affected by the slow growth in key tax sources resulting from the weakening of nominal GDP growth, but it can be said that Korea's tax revenue performance compared to sources has been fairly good. oA downturn in nominal GDP growth causes slow growth in key tax sources such as corporate income and domestic demand, becoming the main cause of reduced growth in key tax revenues. oThe corporate tax burden ratio retreated slightly since the financial crisis, dragging on its revenue performance. However, the income and value-added tax burden ratios increased high enough to offset this, consequently sustaining positive conditions in key tax revenue performance compared to sources. (The rest omitted)