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[Alpha Biz=(Chicago) Reporter Kim Jisun] Starting this month, the tax base on soju will be lowered by 22%. Factory factory prices are expected to be lowered by more than 10%, which will have a price stabilization effect.
According to the tax authorities on the 2nd, the National Tax Service introduced the 'standard sales ratio' to domestic liquor and domestic passenger cars last year.
Until now, Korean products have been taxed on export prices that include "sales costs and margins," but imported products have been taxed on import declaration prices that do not include them. As a result, the tax base will be lowered through the tax discount rate, which is deducted from the tax base (tax base) when calculating taxes.
The National Tax Service has lowered the standard sales ratio of soju by 22% starting this month. Domestic whiskey will be lowered by 23.9%, brandy by 8.0%, general distilled liquor by 19.7% and liqueur by 20.9%.
As the tax burden is lowered, domestic distilled liquor such as soju will be lowered to 10.6% from this month.
Initially, soju makers were scheduled to cut factory prices starting this month, but most manufacturers proactively cut them in December last year to actively participate in easing consumer burdens and stabilizing prices.
Since July last year, the standard sales ratio of domestic passenger cars has been lowered by 18%. The Grandeur standard (42 million won for shipping price and 5% for individual consumption tax) was reduced by 540,000 won.
The National Tax Service plans to implement the base sales ratio from the 1st of next month after deliberation by the Standard Sales Ratio Council in January for future fermented liquor, other alcoholic beverages and camping cars ．
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
