New South Korea Liquor Tax to Reduce Cost of Beer Imports From US
South Korea recently imposed a volume-based liquor tax for beer that will reduce costs of imported U.S. craft beer, according to a U.S. Department of Agriculture Foreign Agricultural Service report released Jan. 8. The new 72 percent per liter liquor…
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tax, which took effect Jan. 1, replaced the previous 72 percent “value-based liquor tax for beer,” USDA said. The change is expected to benefit “higher quality beer,” such as U.S. craft beer, which will see the “largest decline in liquor taxes,” the report said. Most “mass-produced lower price” beer will see a “minimal change” in taxes, USDA said.