South Korea: Taxes on goods and services

The latest value from 2024 is 16.99 percent, an increase from 16.1 percent in 2023. In comparison, the world average is 31.34 percent, based on data from 89 countries. Historically, the average for South Korea from 1972 to 2024 is 32.61 percent. The minimum value, 16.1 percent, was reached in 2023 while the maximum of 48.65 percent was recorded in 1975. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: 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.