More taxes collected in 2009 on improving economic conditions

SEOUL, Jan. 11 (Yonhap) -- South Korea's government earned more tax revenues than it earlier forecast in 2009 thanks to rebounding economic conditions, the finance ministry said Monday.

According to the Ministry of Strategy and Finance, the total amount of tax
revenues stood at 164.5 trillion won (US$146.2 billion) last year, up from its
initial forecast of 164 trillion won.
"With the faster-than-expected economic recovery, the government is estimated to
have earned 500 billion won more in tax revenues last year," the ministry said.
"The additionally collected tax will be used to stabilize the livelihood of
ordinary people."
The ministry said that it collected 3 trillion won and 1 trillion won more in
corporate and income taxes, respectively, last year.
Improving economic conditions will likely increase the government's tax revenues
this year as well. The ministry expects that it will collect 170.5 trillion won
in tax this year.
kokobj@yna.co.kr
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