On June 24, Korean media reported: The South Korean Ministry of Agriculture, Forestry, Food and Rural Affairs held an explanation session on the exemption system of raw coffee beans (raw beans) from import surtax for the coffee industry.
Currently, coffee beans imported into Korea are mainly raw beans or roasted beans, but the tax exemption will only apply to raw beans starting July 1 this year.
The measure is expected to reduce the amount of raw coffee beans purchased by Korean importers and distributors, and lower the price of raw coffee beans and roasted beans in Korea to the level of tax exemption.
In addition, enterprises and small and medium-sized coffee shops that use raw coffee beans to process and sell their products can also enjoy input tax credits.