- The South Korean National Assembly accepted Bill No. 2207019 on December 27, 2024
- The bill proposes amendments to the Special Tax Measures Act
- It includes a zero percent VAT rate on transportation services for unprocessed agricultural products
- It specifies that this zero rate applies only to services prescribed by Presidential Decree
- The law will be effective six months after its official announcement
- It will apply to transportation of agricultural products from the effective date onwards
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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