Country:Korea
Year:1994
Policy status:In Force
Jurisdiction:National
Date Effective:1994
Policy Type:Economic Instruments>Fiscal/financial incentives>Taxes
Policy Target:Transport>Vehicle type>Passenger vehicles
Description:

The government has imposed progressive taxation on cars according to engine size to reduce the demand for motor vehicles and control the demand for large cars. The taxation on private cars with an engine size above 3 000 cc is 370 Won/cc, while that on private cars with an engine size less than 800 cc is 100 Won/cc. Households with more than one car pay double tax on the additional car.

Last modified: Mon, 30 Oct 2017 13:39:29 CET