Lotte Chilsung Applies Specific Tax... 'Cloud' and 'Pitts' Release Prices Reduced
[Asia Economy Reporter Choi Saeng-hye] Lotte Chilsung Beverage announced on the 2nd that it will actively accept the volume-based tax system implemented from the 1st of this month and lower the ex-factory prices of domestic beers ‘Kloud’ and ‘Pitz Super Clear’.
From this year, beer taxation will shift from the ad valorem tax system, which levies taxes based on price, to the volume-based tax system, which imposes taxes based on the volume of alcohol.
Accordingly, Kloud’s canned beer price for 500㎖ will be reduced from 1,880 won to 1,565 won, and Pitz’s canned beer price for 500㎖ will be lowered from 1,690 won to 1,467 won. For kegs (20ℓ basis), Kloud’s price will slightly increase from the existing 37,000 won to 38,108 won, and Pitz’s price will rise slightly from 30,430 won to 34,714 won.
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A Lotte Chilsung Beverage official said, “We agree with the government’s policy to expand consumer benefits and have lowered the ex-factory prices in line with the transition to the volume-based tax system.”
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