Refund of Petroleum Import Levy on Exported Petroleum Products for Export Purposes

When petroleum products are exported from a bonded logistics center for export purposes, the petroleum import surcharge is refunded. The employment reduction system linked to the disability employment levy, which was applied to private and public institutions, will also be expanded to the government sector.

On the 21st, the Ministry of Economy and Finance held a Levy Management Deliberation Committee (Deliberation Committee) meeting at the Government Seoul Office and reviewed and approved two levy reduction measures to be implemented from January next year. The petroleum import surcharge is a fund for the Petroleum Business Fund introduced by the government to stabilize crude oil supply and demand uncertainties. The Ministry of Economy and Finance decided to refund the petroleum import surcharge.

In addition, the Ministry of Economy and Finance plans to apply the employment reduction system linked to the disability employment levy, which was only applied to the private sector, to government sectors such as national government, local governments, and education offices to encourage the employment of persons with severe disabilities. Employers with 100 or more regular employees who fail to meet the mandatory employment rate for persons with disabilities are required to pay the employment levy. This system reduces part of the levy when subcontracting to standard workplaces for persons with disabilities or vocational rehabilitation facilities. Furthermore, the Deliberation Committee received a report on this year's levy management evaluation results from the Levy Management Evaluation Group and decided to prepare improvement measures within the first half of next year.

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