SEOUL, Jan. 11 (Xinhua) -- The South Korean government collected more tax than its earlier forecast in 2009 on the back of recovery in economic conditions, local media reported Monday, citing the finance ministry.
According to media reports, the finance ministry said the total amount of tax revenues reaching 164.4 trillion won (146.2 billion U.S. dollars) in 2009, standing above the initial forecast by 500 billion won (444.4 million U.S. dollars).
"The additionally collected tax will be used to stabilize the livelihood of ordinary people," the ministry was quoted as saying by South Korea's Yonhap News Agency.
While corporate tax increased 3 trillion won (2.7 billion U.S. dollars), income tax gained 1 trillion won (889 million U.S. dollars), the ministry said, according to Yonhap.
For the year of 2010, the ministry expects tax revenues to reach around 170.5 trillion won (151.6 billion U.S. dollars), the ministry added.
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