The recovering new car market is prompting South Korea to end tax breaks on automobile purchases in September. The South Korean government cut automobile sales taxes last year in an effort to boost consumption and economic growth but has been pushed recently to scrap the tax breaks due to inflationary pressure and a growing economy. Customers now will have to pay about 3%-5% more for cars from September on. The sales tax on sedans with an engine size of more than 2.0L will be raised from ...
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