Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance Choi Sang-mok held a press conference at the Government Complex Sejong on the 23rd and announced that the enforcement regulations of the Customs Act will be revised during the first quarter of next year.
Travellers will be able to bring in up to two bottles of alcohol, each worth two litres and worth $400, duty-free, but the limit on the number of bottles will soon be lifted.
Specifically, if you bring in three 330ml cans of beer, each worth $1.
In principle, one can of alcohol is taxed. The same rule applies when bringing in multiple miniature bottles of alcohol. However, after the amendment of the Enforcement Regulations, the limit is 2 liters and the value is less than $400.
This means that up to six 330ml cans of beer will be tax-free.
Choi emphasized that this measure will "expand consumer choices." In addition, in consideration of the sluggish business of duty-free shops, the government will reduce patent fee rates by 50%.
"The reduction will take effect starting with the 2024 tax payment due in April next year. This is expected to reduce the annual burden from about 40 billion won to 20 billion won," Choi said.
2024/12/24 06:17 KST
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