South Korea issued some revised drafts of the alcohol tax law and began to adjust the tax rate of imported and exported beer and turbid wine
By: Date: 2022-07-22 Categories: foodwarning Tags: ,
  Food partner online news On July 22, Korean media reported that in order to alleviate the consumption burden brought by high prices to consumers, the Korean government began to adjust the tax rate of beer and muddy wine. To this end, the South Korean Ministry of planning and finance decided to improve the price linkage system.
 
The previous annual tax rate plus the rising rate of consumer prices, the tax rates of beer and turbid wine are adjusted every year, and the plan is changed to a flexible adjustment within the range of ± 50%of the rising rate of consumer prices.
 
This is a price change index that takes into account the tax balance with other alcohols, changes in ex warehouse prices, price stability and other factors. It is planned to apply from the exported or imported alcohols after April 1 next year.