VAT Return for the 2nd half of 2020 FY



NTS(National Tax Services) announced on Jan. 6 to delay the due date for a month for every "Sole-proprietorships" due to the pandemic situation, so the due date of the vat return is the 25th of Feb. 2021.

This is only for the sole-proprietors, so all of corporation should have file and pay by the 25th of Jan. as scheduled.


It's around 6.6mil. sole-proprietors who need to file and pay the vat return for the 2nd half of 2020 FY, but 1mil. corporations are need to file and pay by the 25th of Jan. as scheduled.


It's mainly due to the pandemic situation which hit the sole-proprietors badly until now, and it seems like hopeless for the time being.


any questions on this, please send me an email to jz@taxjz.com always.

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since 1981-

Korean Tax Blog

Joseph SY Zoh

CPA, California, a member of AICPA  |  Jz Associates/Tax Accounting Firm Hae-An

F:+82-31-273-5078  |  Skype: joezoh  |  Email: jz@taxjz.com

Web : www.taxjz.com  |  Blogs: www.koreantaxblog.com

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