(1) A period during which provisions concerning simplified taxable persons are applicable or not applicable under Article 61 shall be from July 1 of the first year to June 30 of the second year following the year in which the sum of proceeds from supply from January 1 to December 31 of the year is less than, or not less than, the amount prescribed by Presidential Decree. <Amended on Jan. 1, 2014; Dec. 22, 2020; Dec. 31, 2023>
(2) Notwithstanding paragraph (1), in cases of an entrepreneur who starts a new business, a period for which provisions concerning simplified taxable persons apply or do not apply under Article 61 shall be from July 1 of the first year to June 30 of the second year after the year in which he or she starts a new business. <Amended on Jan. 1, 2014>
(3) Matters necessary for the time of application of simplified taxation and general taxation, shall be prescribed by Presidential Decree.[Title Amended on Jan 1, 2014]