South Korea’s National Tax Service has introduced a new filing requirement for VAT‑exempt business owners, including YouTubers, drivers, and delivery riders. All such owners must submit an annual business operation status report by February 10, 2025, and will receive mobile notifications starting on the 21st of the reporting month. The rule expands guidance to one‑person media creators and sets a 24 million won income threshold for certain personal service providers.
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Seoul Economic Daily · 15 days ago
The Supreme Court of Korea ruled that fresh flower decorations supplied at hotel wedding venues are a provision of services, not a supply of goods, and therefore subject to VAT. The ruling overturned a lower court decision that had treated the decorations as exempt unprocessed agricultural products. As a result, the tax office assessed significant VAT amounts for Josun Hotel & Resort for 2018.
Bloomberg Tax · 5 months ago
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.
Manila Bulletin · 4 days ago
Manila Bulletin reports that the Philippine BIR has clarified that bilateral tax treaties do not exempt foreign digital service providers from the country's 12% VAT. The new guidance, issued in RMC No. 59‑2026 on June 2, 2026, requires non‑resident providers to register and file VAT returns, and outlines reverse‑charge rules for cross‑border B2B services. It also details how online booking platforms and pre‑existing subscriptions are taxed.
The Manila Times · 5 days ago
The BIR expanded the VAT exemption list for essential medicines in April 2026, increasing the number of exempt chronic‑condition drugs to 2,263 from 2,242 in December 2025. This move aims to reduce out‑of‑pocket healthcare costs and boost demand for locally produced generic medicines. The commentary notes potential benefits for domestic manufacturers but highlights ongoing challenges such as high out‑of‑pocket spending and supply‑chain constraints.
Boardroom Limited · 7 days ago
Boardroom Singapore’s press release outlines common pitfalls in Singapore’s GST filing process and offers a practical checklist to improve accuracy. It stresses the importance of timely filing, proper documentation, and the use of the myTax Portal and IRAS’s Assisted Self‑help Kit to mitigate errors and penalties.
Geo · 7 days ago
The International Monetary Fund has urged Pakistan to increase its standard General Sales Tax (GST) rate from 18% to 19% for the 2026-27 fiscal year, citing a tax shortfall. The IMF also proposes raising the GST on hybrid vehicles from 8.5% to 18% and introduces a fixed‑tax scheme for retailers with turnover up to Rs200 million. While the government has resisted the hike, the IMF estimates the 1% increase could raise Rs250‑300 billion in revenue.
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Key Takeaways
They must file the annual business operation status report by February 10 each year (for the 2025 reporting period).
One‑person media content creators such as YouTubers and Instagram users with business income statements or foreign‑currency receipts.
An annual service income exceeding 24 million won.
By default via mobile notifications starting on the 21st of the reporting month; if delivery fails, a paper notification will be sent.
Primary source
Read the full article at Asia Business DailyThis summary was published on VATfaqs.com on 19 January 2026. It relates to VAT developments in South Korea. The original source is Asia Business Daily.
