South Korea Gazettes Presidential Decree Further Extending Reduced Tax Rates on Petroleum Products

The South Korean Official Gazette June 28 published Presidential Decree No. 34615, further extending reduced consumption tax rates for specified petroleum products. The decree includes measures: 1) extending the reduced rates for transportation, energy, and environmental tax to Aug. 31 from June 30; and 2) setting the reduced rates at 423 South Korean won (US$0.31) per liter for gasoline and similar alternative fuels, and 263 won (US$0.19) per liter for diesel and similar alternative fuels. The decree enters into force July 1. [South Korea, Official Gazette, 06/28/24]

Reference:
View Presidential Decree No. 34615/2024, Official Gazette No. 20781/2024. View Index ...