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NO TAX BREAKS FOR FUEL ADDITIVE 'CENOX': KOREAN FINANCE MINISTRY.
SEOUL, Dec 1 Asia Pulse - The finance ministry dismissed Friday claims by the manufacturer of a controversial fuel additive, "Cenox," that the product should be exempt from paying traffic tax because it is a fuel additive.
It also said the product could not be classified as an alternative fuel either because the alcohol used was extracted from natural gas. South Korea has a law that offers tax breaks for alternative fuel development and distribution, but the only product at the moment which meets the requirement is the so-called bio-diesel fuel that uses agricultural waste.
"If Cenox extracted its alcohol from a source like sugar cane, the government could consider looking at it as an alternative fuel, but in its present form it can only be deemed as 'quasi-fuel' that is not only illegal but cannot receive preferential treatment," a government official said.
According to the official, comparing Cenox with fuel additives like "Bulls Oneshot" was distorting the nature of the two products, since a car can run on Cenox but not on Bull Oneshot. The official who pointed out that the government had only lost the first legal case to brand Cenox a banned "quasi-fuel" product, and was appealing the matter, said Bulls Oneshot was sold in half-liter containers, while Cenox was sold in multi-liter containers the size of jerrycans.
The finance ministry tax expert said that pending a final ruling on the matter by ...
- NO TAX BREAKS FOR FUEL ADDITIVE 'CENOX': KOREAN FINANCE MINISTRY.
- News wire article from: Asia Africa Intelligence Wire December 1, 2003 700+ words
...official, comparing Cenox with fuel additives like "Bulls Oneshot" was distorting...legal case to brand Cenox a banned "quasi...the matter, said Bulls Oneshot was sold in half...containers, while Cenox was sold in multi...
- CENOX FUELS CONTROVERSY IN S KOREA.
- News wire article from: AsiaPulse News March 26, 2003 700+ words
SEOUL, March 26 Asia Pulse - Cenox, first defined by the government as a...recently issued an administrative order to Cenox's maker and distributors not to sell...suddenly reversed its earlier approval of Cenox as an additive which they say is environment...
- Cenox firms seek W80 bil. in damages.
- News wire article from: Asia Africa Intelligence Wire December 1, 2003 700+ words
...Kim Sung-mi A group of local vendors of Cenox, a controversial fuel product, said yesterday...likely intensify the ongoing feud between Cenox advocates and the authorities. "We will...by the government clampdown on sales of Cenox," the National Association of Cenox Distributors...
- NOT-GUILTY VERDICT ON CENOX TO SHAKE UP KOREA'S OIL RETAIL IND.
- News wire article from: Asia Africa Intelligence Wire November 20, 2003 700+ words
...Thursday's "not guilty" court verdict for Cenox, a controversial low-cost fuel alternative...Thursday. The tentative legalization of Cenox following the court ruling, which has...happen, the anticipated massive influx of Cenox, about 20 per cent cheaper than regular...
- SEOUL COURT DECIDES CENOX IS NOT QUASI-OIL PRODUCT.
- News wire article from: Asia Africa Intelligence Wire November 20, 2003 700+ words
...yesterday ruled that the controversial fuel Cenox is not a quasi-oil product - a setback...with claims by oil-selling companies that Cenox is a fake oil product. The court ruled the president of Cenox-manufacturer Free Flight was not guilty...
- KOREAN CRACKDOWN ON FUEL ADDITIVE CENOX TO BEGIN NEXT MONTH.
- News wire article from: Asia Africa Intelligence Wire November 28, 2003 700+ words
...production and sale of the fuel additive Cenox next month, the Ministry of Commerce...will be deployed around the factory of Cenox manufacturer Free Flight in the Daebul...entering, the ministry said. Forty-two Cenox stations nationwide will also be under...
- KOREA'S NTS SAYS CENOX MUST BE TAXED AT SAME RATE AS GASOLINE.
- News wire article from: Asia Africa Intelligence Wire December 3, 2003 700+ words
...Service today said the manufacturer of Cenox, a controversial fuel product, must pay...gasoline providers. Dismissing arguments that Cenox was an "alternative fuel," the office...May of this year because products like Cenox and LP-Power, another fuel product...
- KOREA'S NTS TO LEVY TAX ON CENOX FUEL ADDITIVE, TAKE UNPAID DUES.
- News wire article from: Asia Africa Intelligence Wire November 25, 2003 700+ words
...tax on all sales of the gasoline additive Cenox in accordance with a revised enforcement...was misconception among the public that Cenox, a low-cost product used here as a gasoline...this was not true. The NTS said that Cenox, which is sold for 990 won (US$0...
- Government ministries at odds over 'imitation gasoline' Cenox.
- News wire article from: Asia Africa Intelligence Wire August 29, 2002 700+ words
...looking to ban the manufacturing and sale of Cenox, a fuel solution the ministry describes...year, saying that up to 40 percent of Cenox can be mixed with gasoline for sale. But...of the fair competition law to classify Cenox as an additive, thereby excusing it from...
- Court rules Cenox not an imitation fuel.
- News wire article from: Asia Africa Intelligence Wire November 21, 2003 700+ words
...young A local court yesterday ruled that Cenox is not an imitation gasoline, despite...Free Flight Co., the manufacturer of Cenox, on charges of producing a fake oil product...company not guilty. "It is hard to regard Cenox as a quasi-oil product because it meets...
Source: HighBeam Research, NO TAX BREAKS FOR FUEL ADDITIVE 'CENOX': KOREAN FINANCE MINISTRY.