S. Korea's tax revenues up in 2008 despite economic slump

SEOUL, Jan. 22 (Yonhap) -- The government said Thursday that it had collected
more taxes than expected last year despite a slumping economy thanks to increased
corporate tax and value-added tax income.
According to the Ministry of Strategy and Finance, state tax revenues collected
last year amounted to an estimated 167.3 trillion won (US$122.1 billion), up 1.7
trillion won from its earlier projection of 165.6 trillion won.
The increase came mostly from expanded corporate tax income and more tariffs and
value-added taxes levied on imports of crude oil and other commodities, the
ministry said.
The financial figures on tax revenues will be unveiled late next month, the
ministry said.
kokobj@yna.co.kr
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