Thursday, June 20, 2024

South Korea Set to Double E-liquid Taxes in 2021


South Korea’s Ministry of Health and Welfare (MOHW) said it would double the national health promotion tax on e-liquids for electronic cigarettes. The health tax for e-liquid is currently won525 ($0.46) per milliliter of nicotine solution. It will jump to won1,050, on Jan. 1, 2021.

The increase is in keeping with other tax hikes, including special tobacco consumption tax, according to an article in the Korea Biomedical Review. Cigarettes manufactured using parts other than the leaves of tobacco, which currently are not subject to taxation, will also be included in the health promotion tax.

Cigarettes made and stockpiled before the amendment come into effect will also be subject to the new health, to keep makers from making inventory profits.

The health authorities will listen to public opinions during the legislative notice period and finalize the proposal. It will submit the amendment to the National Assembly after undergoing a regulatory and legislative review, according to the article.

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