The Korean government may reduce alcohol tax on beer from 2005, according to reports.
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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.
