South Korea Extend Tax Incentives for The Purchase of Some Fuel Oil Products

South Korea Extend Tax Incentives for The Purchase of Some Fuel Oil Products

South Korean government addressed on Monday that it would extend tax incentives for the purchase of some fuel oil products, power generation fuels and passenger cars for up to six months to help alleviate the burden of rising living costs. The tax incentives for diesel, LPG butane and gasoline will last until the end of April next year, while the tax incentives for gasoline will be reduced from 37% to 25%. The tax incentives of 30% for passenger car sales and 15% for liquefied natural gas and soft coal for power generation will be extended to the end of June next year.