- South Korea’s National Assembly is considering Bill No. 2213665 to amend the Special Tax Measures Act.
- The bill proposes an individual consumption tax exemption for petroleum used as raw material in manufacturing petroleum products.
- The exemption applies to petroleum imported for such use by December 31, 2028.
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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