Prior to 2023, revised import VAT invoices were issued by the Head of the Customs Office in very limited situations only, which made it difficult for importers in Korea to reclaim input VAT.
As of 2023 however, it will be much easier for taxpayers to obtain revised import VAT invoices after they have voluntarily amended (upward) their import prices, even in expectation of an imminent customs audit. Ultimately, this revision will allow taxpayers to reclaim additional input VAT.
Source: asialaw.com
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