Taxes on goods and services (% of revenue) in South Korea
South Korea: Taxes on goods and services (% of revenue) was 17.0% in 2024. ▼ Falling
Taxes on goods and services in South Korea, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
South Korea recorded 17.0% for taxes on goods and services in 2024.
That represents a change of up 5.6% on the previous year and down 22.1% over ten years.
Over the whole period, taxes on goods and services in South Korea peaked at 48.6% in 1975 and was at its lowest, 16.1%, in 2023.
South Korea ranks 137th of 156 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 53 years of available data.
Taxes on goods and services (% of revenue) in South Korea, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1972 | 41.9% | — |
| 1973 | 45.5% | +8.8% |
| 1974 | 47.1% | +3.5% |
| 1975 | 48.6% | +3.2% |
| 1976 | 44.9% | -7.6% |
| 1977 | 44.6% | -0.8% |
| 1978 | 42.9% | -3.8% |
| 1979 | 43.8% | +2.2% |
| 1980 | 45.9% | +4.8% |
| 1981 | 44.8% | -2.6% |
| 1982 | 44.6% | -0.4% |
| 1983 | 45.8% | +2.7% |
| 1984 | 45.0% | -1.6% |
| 1985 | 43.2% | -4.0% |
| 1986 | 42.8% | -1.0% |
| 1987 | 39.6% | -7.6% |
| 1988 | 38.4% | -2.9% |
| 1989 | 34.0% | -11.5% |
| 1990 | 35.4% | +4.3% |
| 1991 | 33.6% | -5.1% |
| 1992 | 35.0% | +4.1% |
| 1993 | 34.9% | -0.4% |
| 1994 | 34.6% | -0.8% |
| 1995 | 33.2% | -4.1% |
| 1996 | 33.5% | +0.9% |
| 1997 | 34.1% | +1.8% |
| 1998 | 28.7% | -15.6% |
| 1999 | 33.0% | +14.8% |
| 2000 | 30.3% | -8.2% |
| 2001 | 32.2% | +6.2% |
| 2002 | 32.2% | +0.2% |
| 2003 | 31.2% | -3.1% |
| 2004 | 30.3% | -2.9% |
| 2005 | 29.6% | -2.4% |
| 2006 | 27.9% | -5.6% |
| 2007 | 26.8% | -3.9% |
| 2008 | 26.7% | -0.5% |
| 2009 | 27.3% | +2.3% |
| 2010 | 28.1% | +2.9% |
| 2011 | 26.4% | -6.2% |
| 2012 | 22.5% | -14.8% |
| 2013 | 21.7% | -3.6% |
| 2014 | 21.8% | +0.7% |
| 2015 | 21.2% | -2.6% |
| 2016 | 21.9% | +3.2% |
| 2017 | 21.7% | -0.8% |
| 2018 | 21.1% | -2.8% |
| 2019 | 19.9% | -5.8% |
| 2020 | 19.6% | -1.8% |
| 2021 | 18.7% | -4.4% |
| 2022 | 16.9% | -9.6% |
| 2023 | 16.1% | -4.7% |
| 2024 | 17.0% | +5.6% |
South Korea compared with similar countries
- South Korea's 17.0% is below the median for high income countries, which is 26.4%, 64% of the median. (57 countries reporting)
- South Korea's 17.0% is below the median for East Asia & Pacific, which is 25.7%, 66% of the median. (26 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 44.9% | 41.9% | 48.6% | 8 |
| 1980s | 42.4% | 34.0% | 45.9% | 10 |
| 1990s | 33.6% | 28.7% | 35.4% | 10 |
| 2000s | 29.4% | 26.7% | 32.2% | 10 |
| 2010s | 22.6% | 19.9% | 28.1% | 10 |
| 2020s | 17.6% | 16.1% | 19.6% | 5 |
Countries ranked near South Korea
More public sector data for South Korea
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 222.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 19.5 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 362.84 % change on previous year (2024)
Frequently asked questions
- What is taxes on goods and services in South Korea?
- Taxes on goods and services in South Korea was 17.0% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in South Korea?
- The highest recorded value was 48.6% in 1975.
- What is the lowest taxes on goods and services recorded in South Korea?
- The lowest recorded value was 16.1% in 2023.
- How does South Korea rank for taxes on goods and services?
- South Korea ranks 137th out of 156 countries with data for 2024.
- Is taxes on goods and services rising or falling in South Korea?
- Over the last ten years it is down 22.1%. The long-run trend across the full record is falling.
- Where does this South Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (% of revenue). Statizoid updates them automatically from the source API.
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About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.