South Korea Parliament Considers Bill to Extend VAT Exemption, Capital Gains Reduction for Specified Activities

The South Korean National Assembly July 8 accepted for consideration Bill No. 2116365, to partially amend the Restriction of Special Taxation Act. The bill includes measures to extend the deadline to Dec. 31, 2024, from Dec. 31, 2022, for: 1) the VAT exemption for agricultural and fishery equipment; and 2) the capital gains tax reduction on fishing land. [South Korea, National Assembly, 07/08/22]

Reference:
View Text of the Bill No. 2116365. View Legislative History of Bill No. 2116365. View Index.