Korea to Limit Scope of VAT on E-Service Supplies from Foreign Suppliers
Under the 2015 Tax Revision Bill, Korea is planning to limit the scope of VAT on e-service supplies from foreign suppliers to B2C supplies only. From 1 July 2015, foreign suppliers of e-services to Korean customers must register for and charge value added tax (VAT 10%) on their supplies, including games, music, video, electronic documents, software, etc. Currently, VAT applies for both B2C and …
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