- South Korea expands VAT reporting to non-established intermediaries starting 1 July 2025
- Amendments to Article 75 of the Korean VAT Law require quarterly reporting
- Current requirements apply to sales or settlement agents, intermediaries for goods or services, and electronic financial service providers
- New requirements include non-established intermediaries operating without a physical presence
- Intermediaries must submit quarterly statements with seller identity and transaction details
- Reports are due by the end of the month following each quarter
- The expansion aims to enhance VAT transparency and compliance in digital and cross-border transactions
Source: fintua.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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