South Korea Tax Agency Issues Notice Explaining Q1 VAT Return Filing Deadline, Procedures

The South Korean National Tax Service April 7 issued a notice explaining the April 25 deadline for Q1 2022 VAT payments and return filing. The notice doesn’t apply to businesses affected by coronavirus pandemic restrictions and wildfires. The notice includes information on: 1) VAT payments procedures; 2) early tax refund payments to specific companies; 3) the provision of tax payment deadline deferrals for qualified companies upon application; and 4) convenience features of the online tax portal, including customized guidance while reporting taxes. [South Korea, National Tax Service, 04/07/22]

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