South Korea: Opposition against E-cigarette Tax Evasion Prevention Law

Regulations by 2FIRSTS.ai

Nov.21.2023

South Korea: Opposition against E-cigarette Tax Evasion Prevention Law

The South Korean Ministry of Finance opposes the revision of the "Tobacco Business Act", which includes e-cigarettes in regulation.

According to a recent report from the Korean daily Dong-A Ilbo, the South Korean Ministry of Finance has expressed opposition to the proposed revision of the Tobacco Business Act, which is known as the "e-cigarette tax evasion prevention law.

This revision regulation will subject e-cigarettes that use synthetic nicotine as raw materials to the same level of regulation as traditional cigarettes. This move will amplify the loopholes in the regulation regarding the risks of synthetic nicotine, the collection of cigarette taxes, and the increase in import quantity rapidly.

However, the Ministry of Finance, in its report submitted to the South Korean parliament, expressed support for "expanding the range of tobacco raw materials to eliminate regulatory loopholes in tobacco control." However, it believes that "considering synthetic nicotine as a tobacco raw material is premature," essentially opposing the "e-cigarette tax evasion prevention law.

References:

[1] [단독]액상 전자담배 규제법, 기재부 반대 의견

Also Read:

[1] Korean Authorities Reveal List of Tax Evaders with Huge Debts

[2] Glo Hyper Air Artist Kit: A Collaboration Between BAT and Aksu

[3] Possible Increase in Cigarette Prices in South Korea

#E-cigarette Taxes #E-cigarette #E-cigarettes and Tobacco #OTHER AREAS

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