10% VAT in Korea to hit top e-commerce companies on July 1

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10% VAT in Korea to hit top e-commerce companies on July 1

March 05 2015
South Korea

Korea is targeting global online retailers in its expanded VAT legislation, which will tax the non-resident distributors of digital content to Korea customers. From July 1 2015 electronic service providers will be charged 10% VAT on all sales made to Korean consumers, regardless of whether they have a Korean presence.

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