- South Korean National Assembly accepted Bill No. 2205401 for consideration
- Bill aims to extend tax exemption for petroleum products used in fishing
- Tax exemption sunset date extended to Dec. 31, 2031 from Dec. 31, 2026
- Extension applies to VAT, individual consumption tax, transportation tax, energy and environment tax, education tax, and automobile tax
- Extension will enter into force on date of promulgation
Source: news.bloombergtax.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.
