South Korea VAT changes

Fri 8th Mar 2013

A range of changes have been implemented into the South Korean Value Added Tax regime in 2013. These include:

  • Additional input VAT allowances for minor incomplete or inaccurate invoices
  • New penalties on late VAT returns
  • Further allowances on the deductibility of input VAT on VAT-exempt export activity

Click for free South Korean VAT info