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Tourists To Korea To Benefit From VAT-Free Hotel Stays

by Mary Swire, Tax-News.com, Hong Kong

11 January 2018


Tourists staying in Korean hotels in 2018 will generally be able to reclaim the 10 percent value-added tax incurred on the cost of their accommodation.

The Korean Government announced the necessary legislation has been adopted to bring about the measure, which had been in place in previous years, such as between April 2014 and March 2015.

To be eligible to pass on the incentives to foreign tourists, hotel businesses must not absorb the tax relief by increasing their prices by 10 percent.

TAGS: tax | business | value added tax (VAT) | legislation | Korea, South | VAT refunds

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