South Korea tax to GDP ratio soared to 27% in 2018Christian Fernsby ▼ | August 27, 2019
South Korea's tax-to-gross domestic product(GDP) ratio reached nearly 27 percent in 2018.
Asia The country's tax-to-GDP ratio was 26-point-eight
Topics: Korea tax GDP
It's the fifth consecutive annual increase since 2014 and the steepest on-year jump in a decade.
The country's ratio, however, remains lower than that of other Organization for Economic Cooperation and Development countries, which posted an average of 34-point-two percent in 2017. ■