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South Korea has released a draft revision to the Liquor Tax Law, starting to adjust the tax rates on imported and exported beer and liquor

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In order to ease the burden of high prices on consumers, the South Korean government began to adjust the tax rate of beer and liquor. To this end, the Ministry of Strategy and Finance decided to improve the price linkage system.
 
The tax rate on beer and liquor will be adjusted every year from the previous annual tax rate plus the increase rate of consumer prices, and will be adjusted flexibly within ±50 percent of the increase rate of consumer prices.
 
It is a price fluctuation index that takes into account factors such as tax parity with other alcoholic drinks, fluctuation of export prices, and price stability. It will be applied to alcoholic drinks that are exported or qpplied for import from April 1 next year.


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