Where an entrepreneur uses or consumes for a taxable business any depreciable assets for a tax-free business, etc. for which the input tax amount is not deducted under Article 39 (1) 7, he or she may deduct an amount calculated according to the formula prescribed by Presidential Decree as an input tax amount for the taxable period that includes the date such assets are used or consumed for the taxable business.
Laws › Value-added Tax Act › SECTION 3 Amounts of Tax Payable
Value-added Tax Act — Article 43 (Special Cases concerning Deductions of Input Tax Amounts in Cases of Converting Depreciable Assets from Tax-Free Business to Taxable Business Use)
부가가치세법 제43조
This English translation is based on the Korean text effective 2024-01-01. The Korean law has since been amended (current version effective 2026-01-02) — check the Korean original.
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