S.Korean Government Starts Imposing Import Duty on Naphtha from Jan

摘要

The Government of South Korea began to levy 0.5% tax on imported naphtha on January 1st, 2016, which had sofar been duty-free. In spite of strong backlash from the petrochemical industry, the government made clear its intent toimpose import duty at the end of last year for the purpose of making up for plunge in tax revenue.