Jul 12, 2011
VAT act amendment on Cosmetic Surgery in Korea
The Ministry of Strategy and Finance has amended the VAT (value added tax) act, applying tax on cosmetic surgery bills in Korea. The new tax law will be implemented from July 1st, 2011.
According to the Article 29, Paragraph 1 of Value Added Tax Act Decree, any medical institutions in Korea that provide following medical procedures are subject to charge VAT(10%) on the total amount of the medical bill:
5) Rhytidectomy including Botox & Filler
* This change will be applied to everyone receiving above treatments in Korea regardless their nationality.