- South Korean National Assembly accepted Bill No. 2201911 for consideration
- Bill provides a four-year extension for special individual consumption tax reductions for eco-friendly vehicles
- Reductions extended to Dec. 31, 2028
- Reductions capped at 1 million South Korean won for hybrid vehicles, 3 million won for electric vehicles, and 4 million won for hydrogen EVs
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "South Korea"
- South Korea Extends VAT Refund for Cosmetic Surgery Tourists to 2026
- Korea Imposes 10% VAT on Free Appliances for Construction Members in Redevelopment Projects
- Individuals Selling Used Cars Must Register for Tax and Pay Business Tax
- Korea Enhances Tourist Shopping Experience with Instant VAT Refunds at CU Stores
- Korea Ends VAT Refund for Foreign Cosmetic Surgery, Faces Medical Tourism Industry Backlash
