(1) Where an entrepreneur is fully or partly paid the price for goods or services and issues a tax invoice provided for in Article 32 or a receipt provided for in Article 36 with respect to such payment, prior to the time of supply of goods or services referred to in Article 15 or 16 (hereafter in this Article referred to as "time of supply of goods or services"), the time such tax invoice or receipt is issued shall be deemed the time of supply of such goods or services, respectively. <Amended on Dec. 19, 2017>
(2) Where an entrepreneur issues a tax invoice provided for in Article 32 prior to the time of supply of goods or services and then is paid the price for such goods or services within seven days of issuance of the tax invoice, the time the tax invoice is issued shall be deemed the time of supply of such goods or services.
(3) Notwithstanding paragraph (2), even though the entrepreneur who supplies goods or services issues a tax invoice provided for in Article 32 prior to the time of supply of such goods or services and then is paid the price for such goods or services after seven days of issuance of the tax invoice, the time the tax invoice is issued shall be deemed the time of supply of such goods or services, in either of the following cases: <Amended on Dec. 19, 2017; Dec. 31, 2018; Dec. 8, 2021>
1. Where the time the demand for payment is made (referring to the date the relevant tax invoice is issued) and the time the payment is made are separately specified in a written contract, a written agreement, or the like between the parties; and the interval between the time the demand for payment is made and the time the payment is made is not more than 30 days;
2. Where the time for supplying goods or services arrives during the taxable period that includes the date of issuance of the tax invoice (or within 30 days from the date of issuance of the tax invoice if the person to whom such goods or services are supplied receives an early refund under Article 59 (2)).
(4) Where an entrepreneur who supplies goods or services in installments issues a tax invoice provided for in Article 32 or a receipt provided for in Article 36 prior to the time of supply of goods or services applicable to cases prescribed by Presidential Decree, the time such tax invoice or receipt is issued shall be deemed the time of supply of such goods or services, respectively.