National Tax Revenue Up 3.8 Trillion Won Year-on-Year Amid Bullish Stock and Real Estate Markets (Comprehensive)

Increase in Securities Transaction Tax, Special Rural Tax, and Income Tax
Corporate Tax Expected to Drive Continued National Revenue Growth in March
Government Plans to Allocate Excess Tax Revenue for Supplementary Budget

Due to the bullish domestic stock market and an increase in real estate transactions, national tax revenue in February this year was up by 3.8 trillion won compared to a year earlier. In March, the upward trend in national tax revenue is expected to continue, driven by increased corporate tax revenue resulting from the semiconductor boom. The government plans to allocate a supplementary budget (extra budget) using only the excess tax revenue to respond to the economic crisis triggered by the Middle East.

On the 31st, with the KOSPI index dropping more than 4% in early trading and breaking below the 5100 level, the status of the domestic stock market was displayed on the electronic board at the dealing room of Hana Bank headquarters in Jung-gu, Seoul. On the same day, the won-dollar exchange rate continued to rise, surpassing 1520 won during the session. March 31, 2026 Photo by Kang Jinhyung

According to the "National Tax Revenue Status for February 2026" announced by the Ministry of Economy and Finance on the 31st, last month's national tax revenue totaled 18.1 trillion won, an increase of 3.8 trillion won compared to the same period last year.

For the cumulative period through February, national tax revenue reached 71 trillion won, up by 10 trillion won from the previous year. The progress rate is 18.2%. This means that as of last month, the government had collected that portion of the total annual national tax target of 390.2 trillion won. This is higher than the 16.3% recorded in February last year and also an improvement over the recent five-year average of 16.8%.

Securities transaction tax, special rural tax, and income tax were the major contributors to the increase in national tax revenue.

Securities transaction tax revenue reached 1.3 trillion won, up 1 trillion won year-on-year, due to increased securities trading value and a higher tax rate. The special rural tax also increased by 900 billion won as trading value on the KOSPI rose.

In January this year, total trading value of listed shares surged to 1,308.8 trillion won, a jump of 1,010.8 trillion won (339.2%) compared to a year ago. The securities transaction tax rate increased from 0-0.15% last year to 0.05-0.2% this year.

As capital gains from listed shares rose and real estate transaction volume increased, income tax revenue also grew by 900 billion won, with total income tax in February amounting to 14.1 trillion won.

An official from the Ministry of Economy and Finance explained, "The rise in capital gains tax was influenced by major shareholders with holdings over 5 billion won in individual stocks realizing gains at higher stock prices."

Corporate tax revenue remained unchanged from the previous year at 1.5 trillion won. Value-added tax increased by 300 billion won due to a rise in imports, but due to the impact of refunds, it recorded a negative 5.1 trillion won.

Other taxes, such as individual consumption tax (700 billion won) and the transportation, energy, and environment tax (1.2 trillion won), each rose by 200 billion won due to the partial restoration of flexible tax rates, such as fuel taxes. Customs duties (600 billion won) increased by 100 billion won as imports expanded.

In March, national tax revenue growth is also projected to continue due to a rise in corporate tax revenue driven by the semiconductor boom. The government plans to set up a supplementary budget aimed at minimizing the impact of the Middle East conflict, using only excess tax revenue.

The government expects that the uncertainty stemming from the Middle East conflict will not significantly affect its ability to secure excess tax revenue, which will be used as a source for the supplementary budget of approximately 25 trillion won.

An official from the Ministry of Economy and Finance stated, "The projection for excess tax revenue is closer to the lower end of the range, so achieving the target should not be difficult."

This content was produced with the assistance of AI translation services.