“Price over tax revenue” Oil tax cut extended by 4 months

2023-04-18 21:13:35

◀ Anchor ▶

The fuel tax reduction benefit, which was scheduled to end this month, will be extended for another four months.

This is because of high inflation concerns, but instead, taxes are expected to be less than 1 trillion won.

This is reporter Bae Joo-hwan.

◀ Report ▶

The oil tax cut, which was scheduled to end at the end of this month, has been extended for another four months.

The cuts remain unchanged at 25% for gasoline and 37% for diesel.

In the meantime, the expectation that the cut would be reduced due to the lack of tax revenue was dominant, but the burden of concerns about high inflation was greater.

[추경호/경제부총리 (지난 17일, 국회 기획재정위)]

″With the decision to cut production in OPEC Plus, international oil prices are starting to rise again, and domestic gasoline prices are also on the rise.″

Currently, the average oil price in Seoul is 1,746 won per liter for gasoline and 1,645 won for diesel.

The ruling party has also pressed for an extension of the fuel tax cut.

[박대출/국민의힘 정책위의장 (지난 17일)]

″The high price situation continues, which is making people difficult, such as the recent rise in international oil prices. We urge the government to actively consider extending the oil tax cut for the time being.”

The problem is washing your face.

The reduced tax due to the oil tax cut was 5.5 trillion won last year alone, and the national economy is already recording a deficit of 31 trillion won this year due to a lack of tax revenue.

Compared to last year, taxes were collected by February by nearly 16 trillion won, but if the oil tax cut is extended for 4 months, it is estimated that tax revenue will decrease by more than 1 trillion won.

The government will review the oil tax adjustment around the beginning of August, but it has to meet the difficult prerequisite that prices must be caught and the economy must revive at the same time.

This is Bae Joo-hwan from MBC News.

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