South Korea Assembly Considers Bill to Extend Application Deadline for VAT Exemption Due to War

The South Korean National Assembly May 26 accepted for consideration Bill No. 2122304, to extend the VAT exemption application deadline for heating services supplied to permanent rental housing, to Dec. 31, 2024, from Dec. 31, 2023, due to increased oil prices and the ongoing Russia-Ukraine conflict. [South Korea, National Assembly, 05/26/23]

Reference: View Index. View Legislative History of Bill No. 2122304. View Text of Bill No. 2122304.