Preprint Article Version 1 This version is not peer-reviewed

Assessment and Suggestions for Rational Energy and Environment Tax Policy in South Korea

Version 1 : Received: 16 April 2019 / Approved: 17 April 2019 / Online: 17 April 2019 (06:13:28 CEST)

How to cite: Kim, K.S.; Yoon, S.M. Assessment and Suggestions for Rational Energy and Environment Tax Policy in South Korea. Preprints 2019, 2019040197 Kim, K.S.; Yoon, S.M. Assessment and Suggestions for Rational Energy and Environment Tax Policy in South Korea. Preprints 2019, 2019040197

Abstract

Energy and Environment Tax is used globally as a means of environment policy. Energy and Environment tax plays an important role as a driving force for the conversion to environmentally friendly energy. The basic tax principles considered in the design of energy and environmental taxation increases the efficiency of policy instruments. The purpose of this study is to evaluate South Korea’s energy and environmental taxation based on tax principles, namely, equity, efficiency, simplicity, flexibility, and accountability and to suggest directions for improvement. This study applied a methodology that provides policy implications, such as reviewing existing literature and comparing energy and environmental taxes. Results of this study show that South Korea’s energy and environmental taxation is negative in terms of equity, simplicity, and accountability. South Korea’s current energy and environmental tax is regressive to income classes and complex tax structures and it does not objectively measure the impact of energy and environmental taxation. However, energy and environmental taxation is evaluated positively in terms of efficiency and flexibility because it meets the greenhouse gas reduction policy and operates a flexible tax rate. The results of this analysis provide policy implications for reorganizing South Korea’s energy and environmental taxation

Subject Areas

environmental tax; tax principles; energy policy; equity; efficiency; simplicity; flexibility; accountability

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