The South Korean National Tax Service released a press statement outlining new VAT filing and payment deadlines. The main deadlines are Jan. 26 for filing and paying returns for the July–December 2025 period, and March 26 for an extended payment deadline for certain SMEs. Simplified taxpayers and businesses facing financial difficulties also receive automatic or optional extensions.
They must be filed and paid by Jan. 26, 2026.
The extended deadline is March 26, 2026, subject to conditions.
Yes, simplified taxpayers receive an automatic extension regardless of sales decrease, except in specified cases.
Yes, they can apply for an extended payment deadline of up to nine months.
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RTCSuite · about 8 hours ago
Malaysia has postponed the rollout of its MyInvois e‑invoicing system for businesses with annual turnover between RM1 million and RM5 million, moving the implementation date to 2027. The change reflects a shift in the national e‑invoicing roadmap and raises the threshold for mandatory e‑invoicing. Businesses in this turnover bracket must prepare to comply by 2027.
China Daily · about 13 hours ago
China will scrap value‑added tax rebates on photovoltaic products from April 2026, ending the export rebate for PV modules. Between April and December 2026, battery product rebates will be cut from 9% to 6%, and the full removal of PV rebates will take effect on 1 January 2027. The policy shift follows a November 2024 reduction of solar wafer, cell and module rebates from 13% to 9%.
FinancialContent · 1 day ago
China’s Ministry of Finance and State Taxation Administration announced a phased rollback of the 13% export VAT rebate for lithium‑ion batteries, cutting it to 6% on April 1 2026 and abolishing it by January 1 2027. The move has spurred a sharp rise in lithium prices and a front‑loading of exports, reshaping the global battery supply chain and leveling the playing field for non‑Chinese manufacturers.
LinkedIn Article by Darda Advisors LLP · 1 day ago
The Supreme Court of India clarified that a 'part' of machinery must functionally participate in the machine’s operation, while structures that merely support do not qualify. It reaffirmed that tariff classification is a rule‑based exercise grounded in the Customs Tariff and HSN, and that end‑use is not determinative unless the tariff allows it. The ruling also confirmed that HSN explanatory notes carry binding interpretive value.
AAStocks · 1 day ago
China’s Ministry of Finance and State Administration of Taxation announced that the VAT export tax rebate for photovoltaic (PV) and other products will be cancelled from April 2024. The rebate for battery products will be reduced from 9% to 6% from April 2024 until the end of 2026, after which it will be fully cancelled in 2025. The move aims to rationalise overseas prices, reduce trade friction and ease the national financial burden.
1stopVAT · 1 day ago
The China State Council adopted a new VAT Implementing Regulation on 19 December 2025, which came into force on 1 January 2026. The regulation, comprising 54 articles across six chapters, provides detailed enforcement procedures and clarifications on taxable goods, services, intangible assets, taxable persons, VAT rates, zero‑rated and exempt supplies, tax calculation, and cross‑border collection responsibilities, complementing the updated VAT law enacted in December 2024.
