SOUTH KOREA: Tax on beer to be cut - report
The Korean government may reduce alcohol tax on beer from 2005, according to reports.
Government sources were cited in Korean newspapers yesterday as saying that the National Assembly has passed a law calling for downward adjustments on the beer tax. Currently at 100%, the tax would drop to 90% in 2005, then to 80% in 2006 and down to 72% in 2007.
The factory price for a 500ml bottle of beer would consequently drop from the current 1,015.60 won (US$0.867) to 958.19 won in 2005, 900.80 won in 2006 and 854.86 won in 2007.
Sectors: Beer & cider
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