Last Year’s Per Capita Tax Liability Reaches Three Million Won

The taxes that an individual paid last year closed in on the 3 million won mark on average, the highest annual amount ever.

According to the Korea National Statistical Office on June 20, taxes, including national taxes and local taxes that the central government and local self-governing bodies collected last year, increased by 6.1 percent from approximately 135 trillion won in 2002 to about 143 trillion won.

Accordingly, the taxes each person had to pay were the highest in history, approximately two million nine hundred and ninety thousand won, which almost doubled after eight years compared to about one million six hundred thousand won in 1995.

The taxes each person has had to pay have increased every year: 2,415,226 won in 2000, 2,586,616 won in 2001, and 2,844,134 won in 2002.

The rate of tax responsibility, equivalent to the total tax, was 19.9 percent of Gross Domestic Production (GDP), which was an increase by 0.1 percent compared to 19.8 percent in 2002. The rate of tax responsibility also shows annual growth: 19.6 percent in 2000 and 19.7 percent in 2001.

Meanwhile, the Korea National Statistical Office estimated the total taxes of 2004 at approximately 154 trillion won based on this year’s budget and economic growth figures. In this case, each person’s tax burden will increase by 3,195,986 won and the rate of tax responsibility will increase by 22.7 percent.

Jin-Hup Song jinhup@donga.com