Special parliamentary committee passes bill aimed at lowering fuel tax rate

▲ A meeting of a special parliamentary committee on improving people's livelihoods is held at the National Assembly in western Seoul on July 29, 2022. (Pool photo) (Yonhap)

parliamentary committee-fuel taxes

Special parliamentary committee passes bill aimed at lowering fuel tax rate

SEOUL, July 29 (Yonhap) -- A special parliamentary committee on improving people's livelihoods on Friday passed a bill raising the flexibility rate of fuel taxes from the current 30 percent to 50 percent until the end of 2024 as part of efforts to lower skyrocketing oil prices.

The committee also approved a bill expanding tax exemption on meal allowances for employed workers from 100,000 won (US$77) to 200,000 won per month.

The bills will be put to a vote at the National Assembly's plenary session set for Tuesday next week after it passes through the parliamentary legislative committee.

Aside from the two bills, the committee also plans to handle bills related to real estate and other issues directly related to people's livelihoods amid soaring inflation and other economic woes.

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