Under the 2015 Tax Revision Bill, Korea is planning to limit the scope of VAT on e-service supplies from foreign suppliers to B2C supplies only. From 1 July 2015, foreign suppliers of e-services to Korean customers must register for and charge value added tax (VAT 10%) on their supplies, including games, music, video, electronic documents, software, etc. Currently, VAT applies for both B2C and B2B supplies.
If approved, the change is expected to apply from the period in which the 2015 Tax Re…