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Korean Lawmaker Seeks Law Revision to Levy Higher Taxes on Expensive Vehicles

Korean Lawmaker Seeks Law Revision to Levy Higher Taxes on Expensive Vehicles

SEOUL, Aug. 21 (Korea Bizwire) — A South Korean lawmaker is seeking a law revision aimed at levying taxes on vehicles based on their prices instead of displacement volume, a change that could result in a hike in taxes on many high-end foreign brands, industry sources said Friday. Currently, South Korea levies vehicle taxes based [...]