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Motor Vehicles (South Korea)

Volume 129: debated on Wednesday 9 March 1988

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73.

To ask the Chancellor of the Duchy of Lancaster what is the current amount of motor vehicle exports to and imports from South Korea, together with the duties and tariffs levied by the United Kingdom on Korean vehicle imports and those levied by South Korea on United Kingdom vehicle exports.

Exports of motor vehicles to South Korea for the 11 months January to November 1987 amounted to £0·5 million; imports for the same period amounted to £16·9 million.The tariffs levied by the United Kingdom on Korean vehicle imports range from 10 per cent. to 22 per cent. Passenger vehicles are also subject to 10 per cent. car tax, and 15 per cent. VAT is levied on all vehicles.Tariffs levied by the Republic of Korea on United Kingdom vehicles exports range from 15 per cent. to 30 per cent. Additional duties include a special excise tax, ranging from 10 per cent. to 40 per cent. and a defence tax of 30 per cent. In addition 10 per cent. VAT is levied on the total.