New VAT rate on electronic services in South Korea

28 August 2015

As of 1 July 2015, electronic services (applications, e-books, MP3, music, films, etc.) supplied by a foreign service provider are now subject to 10% Korean VAT.  As a result of this, the Korean National Tax Service has implemented a simplified VAT registration procedure for electronic service providers and those affected should register within 20 days from the date of commencement of supplying these types of services.

LATEST NEWS

New German coalition government announces intention to...

The German government has announced that it intends to implement a mandatory B2B e-invoicing regime in the country.     The new voluntary regime will allow...

SEE MORE
LATEST NEWS

France splits its Intrastat into separate filing...

From January 2022, France has split its monthly dispatch Intrastat report (Déclaration d’Echanges de Biens (DEB)) into two separate reports.  This is an...

SEE MORE
LATEST NEWS

Spain passes legislation moving towards mandatory B2B...

The Spanish government has approved VAT law that includes a requirement for businesses to issue electronic invoices for all business-to-business (B2B)...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.