S.Korea to cut sales tax rates on cars, electronics

Newswire

SEOUL, March 23 (Reuters) - South Korea said on Tuesday it had decided to reduce sales tax rates on cars and several electronic home appliances to help boost consumer spending, which has been holding back the broader economy. The reduced rates would apply from Wednesday to the end of this year, the finance ministry said. The announcement came after the central bank announced South Korea's economy grew at its fastest pace in nearly two years in the final quarter of 2003, although mainly ...

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