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| ▲ This photo provided by the Korea Customs Service on March 8, 2023, shows a set of e-liquid products containing natural nicotine, which were falsely declared to contain synthetic nicotine to evade taxes. (PHOTO NOT FOR SALE) (Yonhap) |
customs office-tax evasion
Customs office busts tax evasion of e-liquid
SEOUL, March 8 (Yonhap) -- South Korea's customs agency said Wednesday it has found 280,000 milliliters of e-liquid products that were falsely declared to contain synthetic nicotine to evade taxes.
The announcement came after the Korea Customs Service investigated 303 e-liquid products imported to South Korea since November last year. Of them, 36 were found to have made false declarations despite containing natural nicotine.
Under local law, e-liquids containing natural nicotine are subject to an internal tax of 1,799 won (US$1.37) per milliliter, as they are considered tobacco products.
The tax is not applied to those with synthetic nicotine, as they are categorized as industrial products.
The amount of fraudulently reported e-liquid products is enough to be consumed by 6.5 million people, the customs agency added.
"We will strictly respond to various tax evasion attempts that take advantage of different tax rates on products by closely monitoring imported goods," the customs office added.
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