A new rule, likely to come into force in February 2015, will benefit Korean companies providing clinical trial services.

This rule will allow Korean hospitals and medical institutions, which provide clinical trial services to foreign pharmaceutical companies located outside of Korea and receive consideration in foreign currencies, to apply zero-rated VAT on these services.

To find out more about how this new rule may affect your business, please contact your PWC representative.

Sang-Do Lee
Partner, VAT
sdlee@samil.com
+82 (0) 10 4751 8539

Ki-Soo Lee
Director, VAT
kisoolee@samil.com
+82 (0) 10 3393 5061