May. 9. 2022
Tax agency pledges support for traditional liquor makers
|liquor makers and other tax officials during a meeting held in Seoul, Friday. Courtesy of NTS” src=”https://img.koreatimes.co.kr/upload/newsV2/images/202205/c285883ed705437f950e04d6081b3e64.jpg/dims/resize/740/optimize”/>|
|National Tax Service (NTS) Deputy Commissioner Lim Kwang-hyun, fourth from left, poses with traditional liquor makers and other tax officials during a meeting held in Seoul, Friday. Courtesy of NTS|
By Yoon Ja-young
The National Tax Service (NTS) held a meeting with traditional liquor makers on Friday, where the makers requested support from the tax agency.
According to the NTS, various issues including the taxation of traditional liquors were discussed at the meeting. Traditional liquor makers, in particular, have expressed concern over growing demand for expanding mail-order liquor sales. Currently, there is a restriction on mail order sales of alcohol other than traditional alcohol.
They also demanded the simplification of the procedure for reporting the liquor tax and the relaxation of the regulations on the degree of alcohol.
“Korea has a deficit of 1.2 trillion won in liquor trade per year, and the deficit is growing. Traditional spirits should be promoted to replace wines, whiskeys and sakes. The tax agency will also provide support,” the NTS deputy commissioner said. Lim Kwang-hyun said during the meeting.
Traditional liquor tax revenue recorded 7.8 billion won in 2020, barely 0.26 percent of the total liquor tax.
The NTS plans to help traditional liquor manufacturers reach out to airlines, hotels and franchise restaurants to expand sales channels and induce the development of premium liquors through the introduction of a certification of quality.