South Korea MOF Seeks Comments on Partial Amendments to Enforcement Decree of Individual Consumption Tax

The South Korean Ministry of Economy and Finance Jan. 17 opened a consultation on Draft Notice No. 2025-18, on partial amendments to the Enforcement Decree of the Individual Consumption Tax Act. The draft notice includes measures to: 1) establish the scope of hydrogen production facilities that are eligible for the consumption tax refund for butane, which is a petroleum gas used for hydrogen production; 2) abolish the current flexible tax rate for low-calorie coal, which will unify the consumption tax rate for bituminous coal; and 3) reduce the tax rate for passenger cars to 3.5 percent from 5 percent by ...