South Korea Assembly Considers Bill to Partially Amend Special Tax Measures Act

The South Korean National Assembly Nov. 20 accepted for consideration Bill No. 2214441, to partially amend the Special Tax Measures Act. The bill includes a measure to extend to Dec. 31, 2030, from Dec. 31, 2025, the sunset date of the special VAT exemption for supplies of agricultural, livestock, or forestry equipment to farmers or foresters. The law would enter into force Jan. 1, 2026. [South Korea, National Assembly, 11/20/25]

Reference:
View Text of Bill No. 2214441. View Legislative History of Bill No. 2214441. View Index.