- The South Korean Official Gazette published Law No. 20614 on December 31, 2024
- The law amends the VAT Act
- VAT exemption for animal blood supplies used in treatment, prevention, and diagnosis
- Extension of special tax deduction for electronic tax invoices until December 31, 2027
- Increase in surcharge rate for falsely identified business operators to 2 percent for general taxpayers and 1 percent for simplified taxpayers
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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