South Korea Gazettes Presidential Decree Extending Temporarily Reduced Individual Consumption Tax Rate

The South Korean Official Gazette April 30 published Presidential Decree No. 34453, providing a two-month extension, to June 30 from April 30, for the temporary flexible reduction of the individual consumption tax rate on butane among oil and gas due to increased oil prices. The decree enters into force May 1. [South Korea, Official Gazette, 04/30/24]

Reference: View Presidential Decree No. 34453, Official Gazette No. 20741. View Index.