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2024 Tax Law Amendment: Animal Blood for Therapy Exempt from VAT

  • Blood of animals used for treatment purposes will be exempt from value-added tax
  • Proposed amendments to the tax laws include exemption of animal blood used for treatment, prevention, and diagnosis
  • Taxi operators must pay part of the value-added tax reduction amount to drivers, failure to do so may result in additional tax
  • Foreign tourists staying in hotels or resort condominiums will be eligible for value-added tax refunds
  • The amendments also include other changes related to value-added tax, such as the exemption of animal blood used for disease treatment.

Source: m.joseilbo.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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