South Korea Reduces Butane Tax Rate, Extends Flexible Rates to June 30, Effective May 1

• South Korea published Presidential Decree Nos. 35487 and 35488 on April 30
• The decrees amend enforcement decrees of the Transportation, Environment, and Energy Tax Act and the Individual Consumption Tax Act
• The flexible individual consumption tax rate for butane in oil and gas is reduced to 234 won from 275 won per kilogram
• The application of the flexible rates is extended to June 30 from April 30
• The decrees take effect on May 1

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.

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