I read shortly changes in South Korea about audit in financial reporting. I was fascinated about the increasing responsibilities and surprisingly penalties in case companies should not behave in line with the law. Whether or not we are getting step closer to full transparency and absolut correctness of reporting the future will show. Read More »
In our initial post on the South Korean VAT rule changes regarding the supply of electronic services by non-established service providers (effective from 1 July 2015), that the legislation subjected both B2B and B2C supplies to VAT under the new rules. There has been controversy whether the legislation really intended to apply the same treatment to B2B supplies, as to B2C.Read More »
The amended VAT law for the supply of e-services from overseas has been effective since July 1st, 2015. Foreign service providers shall apply for the simplified business registration by July 20th, 2015. The Korean tax authorities (National Tax Service (“NTS”) open the website for the application of simplified business registration.
You can reach out to the website via the LINK.
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My mother wants to be informed on what her grandchildren and I are doing. Almost everything is of importance and of interest. I call her twice a week in order to find out how she is, whether the plants are growing and to report on what is going on in our lives.Read More »