fuel taxes Archives | Be Korea-savvy

S. Korea Temporarily Cuts Fuel Taxes to Tackle Soaring Oil Prices

SEOUL, Nov. 12 (Korea Bizwire) — South Korea temporarily lowered fuel taxes Friday in an effort to ease the impact of surging oil prices on the country’s consumer inflation and people’s lives. Government officials said the 20 percent reduction in taxes on gasoline, diesel and liquefied petroleum gas (LPG) will remain in place for six [...]

S. Korea to Cut Fuel Taxes by Record 20 pct amid Soaring Oil Prices

SEOUL, Oct. 26 (Korea Bizwire) — South Korea said Tuesday it will temporarily cut fuel taxes by a record 20 percent in a bid to ease upward pressure on consumer inflation as oil prices have surged amid the global economic recovery. The government will lower taxes on gasoline, diesel and liquefied petroleum gas (LPG) from [...]