- The South Korean National Assembly accepted Bill No. 2207019 on December 27, 2024
- The bill proposes amendments to the Special Tax Measures Act
- It includes a zero percent VAT rate on transportation services for unprocessed agricultural products
- It specifies that this zero rate applies only to services prescribed by Presidential Decree
- The law will be effective six months after its official announcement
- It will apply to transportation of agricultural products from the effective date onwards
Source: news.bloombergtax.com
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