- South Korea amended the Individual Consumption Tax Act with Law No. 21206.
- A two-year 50% tax rate reduction applies to cigarettes made with synthetic nicotine or not using tobacco/tobacco nicotine.
- Tax deduction or refund is allowed for such cigarettes if returned or discarded due to issues like poor packaging, quality, or sales, regardless of export status.
- The law takes effect on April 1, 2026.
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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