Sunday, November 29, 2020

Special consumption tax

특별소비세 or special consumption tax was levied on products considered luxury products by using 납세증지 / commodity tax stamps. These were in use from approx. 1977 until 2003. Products considered luxury goods (in 2002) were for instance wall-mounted TVs, large projection TVs, luxury watches worth 3 million won, domestic golf clubs, 3 million won fur products, heater products and high-priced furniture for 10 million won or more. These products were sold with tax stamps attached on the products.

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