The announcement includes: 1) a temporary reduction to 25 percent from 37 percent for the fuel tax extended to April 30, 2023, from Jan. 1, 2023; 2) a 30 percent exemption of individual consumption tax for passenger cars to be extended to June 30, 2023, from Jan. 1, 2023; and 3) a temporary reduction of 15 percent on the individual consumption tax on power generation fuels to be extended to June 30, 2023, from Jan. 1, 2023. …
Latest Posts in "South Korea"
- U.S. Raises Tariffs to 25% on South Korean Goods After Trade Deal Stalls
- South Korea Amends Consumption Tax Act: Reduced Tax, Refunds for Certain Synthetic Nicotine Cigarettes
- South Korea Extends VAT Exemption on Coffee and Cocoa Bean Imports to End of 2027
- Korea Extends Car Consumption and Fuel Tax Cuts to Support Domestic Demand and Ease Consumer Burden
- South Korea Considers Expanding VAT Deductions for Businesses Handling Used and Scrapped Vehicles
