SEOUL (Reuters) – South Korea said on Wednesday it would extend by another six months the 30% cut in consumption tax on passenger cars beyond the original deadline of June 30 to help support the auto industry and boost demand.
The reduction in the tax to 3.5% from 5.0% was first implemented in the middle of July 2018 for six months but the deadline has since been extended twice by six months each time.
Finance - Ministry - Statement - Consumption - Tax
The finance ministry said in a statement keeping the consumption tax at the lower...
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