South Korea Gazettes Presidential Decree Further Extending Temporary Individual Consumption Tax Rate Reductions

The South Korean Official Gazette Aug. 30 published Presidential Decree No. 34865, further extending the temporary individual consumption tax rate reductions. The decree includes that the temporary rate reductions to 20 percent from 25 percent for specified gasoline products, and to 30 percent from 37 percent for other specified fuel products will be extended to Oct. 31 from Aug. 31. The decree enters into force Sept. 1. [South Korea, Official Gazette, 08/30/24]

Reference:
View Presidential Decree No. 34865/2024, Official Gazette No. 20825/2024. View Index.