South Korea Assembly Considers Bill to Partially Amend Income Tax Act

The South Korean National Assembly Oct. 21 accepted for consideration Bill No. 2204795, to partially amend the Income Tax Act. The bill includes measures to: 1) reduce the withholding tax rate for delivery riders to 1 percent from 3 percent; 2) expedite VAT refunds for small platform workers earning below a specified threshold; and 3) continue the 3 percent withholding tax rate for general service income. [South Korea, National Assembly, 10/21/24]

Reference:
View Text o Bill No. 2204795. View Legislative History of Bill No. 2204795. View Index.