Global Trade Alert
Global Trade Alert

Republic of Korea: Revision of taxes on imported energy resources

Announcement

01 Jul 2014

In July 2014, the government of Republic of Korea announced a change in import formalities.

Source

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Number of interventions

2

1 certainly harmful

0 likely harmful

1 liberalising

List of interventions

Implementation date

01 Jul 2014

Revocation date:

No revocation date

Updated: 01 Jul 2014
Internal taxation of imports In force

On the same day, taxes on other alternative imported fuels - namely liquefied natural gas (LNG), kerosene and propane - were lowered.

Namely:

  • LNG: 60 -> 42 KRW (ca. 0...
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Implementation date

01 Jul 2014

Revocation date:

No revocation date

Updated: 01 Jul 2014
Internal taxation of imports In force

Starting from 1 July 2014, an individual consumption tax has been imposed on imported coal used for power generation. Coal used for purposes besides power generation was exempted from this tax.&nbs...

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