IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jul 2014 | Removal date: open ended
Still in force

Internal taxation of imports

Starting from 1 July 2014, an individual consumption tax has been imposed on imported coal used for power generation. Coal used for purposes besides power generation was exempted from this tax. 
The idea of the tax policy revision was introduced last November through the press release of the government. In the announcement, it said that the purpose of this measure is to tackle the excessive electricity consumption and to rationalize domestic energy price structure.

Tariff changes on 1 July 2014:
Coal for power generation:

  • Net calorific value below 5,000 kcal/kg: 0 -> 17 KRW (ca. 0.016 USD) per kg
  • Net calorific value above 5,000 kcal/kg: 0 -> 19 KRW (ca. 0.018 USD) per kg

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

110 Coal & peat
2701 Coal; briquettes, ovoids and similar solid fuels manufactured from coal.
270111 Anthracite
270112 Bituminous coal
270119 Other coal
270120 Briquettes, ovoids and similar solid fuels manufactured from coal

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