Under the existing Korean legislation, non-established businesses who make specified digital supplies to Korean consumers must account for Korean VAT on these supplies, and submit periodic VAT returns.
Month: December 2018
Following confirmation of the implementation of VAT in Bahrain, the National Bureau of Taxation have announced a staggered approach to registration, with the first registration deadline of 20 December 2018 being set.
A new VAT system for e-commerce sellers
The new framework is supposed to come into force in 2021.
VAT registered businesses trading above the compulsory registration threshold (currently £85,000) will not be able to use manual records from 1 April 2019. Instead, businesses must use‘functional compatible software’ (digital records) to meet the new requirements.