Search results for VAT
Finance
IBK Industrial Bank of Korea launches i-ONE Boss Partner for small merchants
IBK Industrial Bank of Korea has launched i-ONE Boss Partner, a digital service for small merchants. The bank said the integrated service supports sales, customer and business management. It combines sales information from card payments and delivery apps and uses AI review analysis to guide customer preferences and areas for improvement. It also includes a VAT savings function that automatically sets aside a set share of sales. The bank also launched a linked deposit account offering up to 5 percent annual interest with a 3 million won cap.
Crypto
Vietnam to tax cryptocurrency like stocks, plans 0.1 percent transaction levy
Vietnam is drawing up a tax policy for cryptocurrency trading and is pursuing a plan to treat digital assets the same as securities, Cointelegraph reported on Friday. The finance ministry proposed a 0.1 percent personal income tax on crypto trades for all investors regardless of residency, while exempting value-added tax. Companies would pay 20 percent corporate tax on net profits, and exchanges would face minimum capital requirements and a 49 percent foreign ownership cap.
Finance
Woori Bank launches non-face-to-face issuance of foreign exchange purchase certificate
Woori Bank said on Tuesday it has launched a service allowing individual customers to issue a foreign exchange purchase (deposit) certificate without visiting a branch. The certificate proves that foreign currency remitted from overseas, such as dollars, was exchanged and deposited through a domestic bank. It is required for some content creators, including YouTubers receiving advertising revenue from overseas platforms, when filing VAT to apply a zero tax rate.
