The National Tax Service said Thursday that it collected 195.7 trillion won ($179.8 billion) in revenue in 2014, up 5.5 trillion won from the year before.
In a policy report made to the National Assembly, the agency said despite the increase, it still collected 9.2 trillion won less than last year’s annual budget.
Last year’s budget stood at 204.9 trillion won.
The shortfall comes as the South Korean economy grew at a slower clip than previously anticipated. Such a development hurt taxes collected primarily from large companies.
For the new year, the NTS said it aims to collect 210.1 trillion won, up 7.4 percent, or 14.4 trillion won, from 2014.
It said, in particular, every effort will be made to encourage people to voluntarily pay up their dues, while taking extra effort to clamp down on people and companies trying to dodge taxes.
It said measures will be taken to deal effectively with the underground economy as a means to expand the overall tax base.
“Financial Intelligence Unit data will be used to the fullest to keep tabs on taxpayers with greater attention being paid to those that contest and appeal taxes levied,” the agency said. (Yonhap)
