New tax rider

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A dealership display shows a notice about the end of the car tax reduction beside a black sedan.
A notice regarding the expiration of the temporary cut in the individual consumption tax on automobiles is displayed at a car dealership in Seoul on June 29, one day before the tax break ends. The government will allow the temporary reduction in the individual consumption tax on passenger vehicles to expire at the end of June, restoring the tax rate from 3.5 percent back to the statutory 5 percent.

A notice regarding the expiration of the temporary cut in the individual consumption tax on automobiles is displayed at a car dealership in Seoul on June 29, one day before the tax break ends. The government will allow the temporary reduction in the individual consumption tax on passenger vehicles to expire at the end of June, restoring the tax rate from 3.5 percent to the statutory 5 percent.

individual consumption tax business automobile tax seoul passenger vehicles photo

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