PROVISIONAL IMPORT SURTAX ACT
Act No. 2568, Mar. 3, 1973
Amended by Act No. 3666, Dec. 29, 1983
Act No. 5454, Dec. 13, 1997
Act No. 6305, Dec. 29, 2000
Act No. 9900, Dec. 31, 2009
The purpose of this Act is to promote the balanced development of the national economy by levying provisional import surtax on imported goods in addition to the customs and improving the balance of international payments.
[This Article Wholly Amended by Act No. 9900, Dec. 31, 2009]
| Article 2 (Requisite for Surtax Levy) |
In any of the following cases, the provisional import surtax (hereinafter referred to as "surtax") may be levied, as prescribed by Presidential Decree:
| 1. | Where there is an urgent need to restrain the demand on imports for the improvement of the balance of international payments; |
| 2. | Where there is an urgent need to cope with the potential imbalance of international payments due to changes, etc. in the economic conditions of the main trading partners. |
[This Article Wholly Amended by Act No. 9900, Dec. 31, 2009]
| Article 3 (Goods subject to Surtax) |
The surtax shall be levied on imported goods (excluding duty-free goods referred to in tax rates schedules of the attached Table under the Customs Act). [This Article Wholly Amended by Act No. 9900, Dec. 31, 2009]
| Article 4 (Surtax Base and Rate) |
| (2) | The rate of surtax shall be the same rate on all goods subject to the surtax and shall be prescribed by Presidential Decree within the scope of 30/100. |
[This Article Wholly Amended by Act No. 9900, Dec. 31, 2009]
| Article 5 (Exemption from Surtax) |
| (1) | If the goods, which are prescribed by Presidential Decree and with respect to where customs are reduced or exempted under the Customs Act, or other Acts and subordinate statutes, treaties or agreements, are imported, the surtax may be exempted.
<Amended by Act No. 9900, Dec. 31, 2009> |
| (2) |
Deleted. <by Act No. 5454, Dec. 13, 1997> |
| (3) | If the reduced or exempted customs duties are collected on the goods exempted from the surtax under paragraph (1), the exempted surtax shall be collected thereon.
<Amended by Act No. 9900, Dec. 31, 2009> |
| (1) | The surtax shall be collected at the same time customs are collected. |
| (2) | No surtax may be paid in installments. |
[This Article Wholly Amended by Act No. 9900, Dec. 31, 2009]
| Article 7 (Application Mutatis Mutandis of the Customs Act) |
Except as provided for in this Act, the Customs Act shall apply mutatis mutandis to the surtax. [This Article Wholly Amended by Act No. 9900, Dec. 31, 2009]
| Article 8
Deleted.<by Act No. 9900, Dec. 31, 2009> |
ADDENDUM
This Act shall enter into force on the date of its promulgation.
ADDENDA<Act No. 3666, Dec. 29, 1983>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 1984: Provided, That the amended provisions of Article 8 (2), 9, 9-2 through 9-14 and 149-2 (2) 1 shall enter into force on July 1, 1984. Articles 2 through 9
Omitted.
ADDENDUM<Act No. 5454, Dec. 13, 1997>
This Act shall enter into force on January 1, 1998. (Proviso Omitted.)
ADDENDA<Act No. 6305, Dec. 29, 2000>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2001.
Articles 2 through 8
Omitted.
ADDENDUM<Act No. 9900, Dec. 31, 2009>
This Act shall enter into force on the date of its promulgation.