It appears that domestic passenger cars will be available for up to 18% cheaper thanks to the National Tax Service's efforts to eliminate reverse discrimination against imported products and ease the burden on consumers by lowering the prices of domestic products.

The National Tax Service announced on the 29th that it has introduced the concept of a tax discount rate that is deducted from the taxable standard amount (taxable standard) when calculating the standard sales ratio tax on domestic passenger cars, thereby eliminating tax discrimination against foreign products and alleviating the burden on consumers by lowering the prices of domestic products.

Until now, domestic products have been taxed on the export price including the 'selling cost and margin', but imported products have been taxed on the import declaration price that does not include these, so the tax burden on domestic products has been greater.

In order to resolve the above issues, the National Tax Service deliberated and decided on a standard sales ratio to lower the taxation standards for domestic products through a deliberation committee chaired by the Deputy Commissioner of the National Tax Service.

As a result, the standard sales ratio was applied to domestic passenger cars from July 1st of last year, and as a result, the price of the Grandeur was reduced by 540,000 won (based on the factory price of 42 million won, with 5% individual consumption tax applied).

The National Tax Service said, “Automobile manufacturers have also actively implemented interest-free and low-interest installment benefits and discounts on immediately released vehicles in line with the implementation of the standard sales ratio to ease the burden on consumers.” It added, “For camping vehicles, the standard sales ratio will be implemented from February 1 after deliberation by the Standard Sales Ratio Deliberation Committee in January.” He said, "It's a plan."