The government will cut consumption tax on kerosene, LPG propane, and LNG for cooking and heating by 30 percent from Dec. 1 to Feb. 28 to ease the pressure on ordinary people amid the recession. The enforcement decree of the tax law will be revised in Cabinet meeting next week.

A 30-percent flexible tax rate will be applied to heating oil. The individual consumption tax for kerosene will be cut from W90 (US$1=W1,447) to W63 per liter, and when education tax and VAT, which are linked to individual consumption tax, are taken into account, the consumer price will drop by W34 per liter, or 3 percent, from W1,149 to W1,115.

The consumer price of LPG propane will decrease by W7 per kilogram from W1,888 to W1,881, and that of heating and cooking LNG will drop by W20 per kilogram, from W877 to W857 in Seoul area.

(englishnews@chosun.com )