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

The South Korean National Assembly Jan. 28 accepted for consideration Bill No. 2216370, to partially amend the Special Tax Measures Act. The bill includes a measure to extend, to Dec. 31, 2030, from Dec. 31, 2026, the special VAT exemption on petroleum products used in agriculture, fishing, and forestry. The law would enter into force Jan. 1, 2027. [South Korea, National Assembly, 01/28/26]

Reference:
View Text of Bill No. 2216370. View Legislative History of Bill No. 2216370. View Index.