Thursday, January 8 2004
Value-added taxes will not be levied on e-books from July.
The Ministry of Finance and Economy said on Wednesday the move is designed to promote competitiveness of Korea's online products.
Currently, only books and periodicals stored on CD-ROMs are considered publications and exempt from taxes.
It also said simple processed foods, such as kimchi, soy sauce and bean paste used to make stew, would also be free from value-added taxes.
From next year, however, matchmaking and marriage consulting firms will be subject to taxation.
