• February 28, 2024

Korea to Double Down on E-Liquid Taxes in 2021

 Korea to Double Down on E-Liquid Taxes in 2021

Credit: Brady Bellini

Credit: Brady Bellini

The Korean government said Wednesday that taxes on e-liquids will nearly double starting next year. The “health promotion tax” on nicotine solutions will be raised from the current WON525 (0.45 cents) to WON1,050 a milliliter, according to a story in the Korea Herald.

The changes to the national health promotion laws were approved by the Cabinet recently, according to the Ministry of Health and Welfare, which are set to come into effect Jan. 1, 2021.

Ministry officials said the revisions are intended to achieve a fairer taxation on varying types of tobacco products. Currently, the tax rate for e-cigarettes is only 43 percent of that for conventional cigarettes.

The ministry warns against the use of e-cigarettes or vaping products, citing global instances of lung injuries associated with their use. The first local case of a suspected illness linked to vaping was reported in October last year.