Imported alcohol loses profitability owing to the restructuring of the liquor tax

SEOUL, Jan. 6 (Korea Bizwire) — The norm for imposing liquor taxes on beer and raw rice wine has shifted for the first time in 52 years from a price-based "ad valorem" obligation to a volume-based "specific business duty."

The National Tax Service (NTS) said Sunday in a similar move that while the tax reform this week will reduce canned beer store prices in Korea, the tax burden on imported beer will grow.