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

The South Korean National Assembly Nov. 26 accepted for consideration Bill No. 2205861, to partially amend the Special Tax Measures Act. The bill includes a measure to introduce a VAT exemption for processed rice products with a domestic rice content of 30 percent or more. The law would enter into force Jan. 1, 2025, and would apply to goods supplied after its commencement. [South Korea, National Assembly, 11/26/24]

Reference:
View Bill No. 2205861. View Legislative History of Bill No. 2205861. View Index.