|Term deposit interest rate applied for calculation of deemed rent for leased real estate: 2.5%||Adjusted term deposit interest rate:1.8%|
|None||ㆍVAT refund for foreign tourists’ plastic surgery expenses
- Applicable to plastic surgeries for cosmetic purposes*
* Double eyelid surgery, rhinoplasty, breast augmentation, liposuction, face lift, cosmetic dentistry, etc.
- Applicable period: Apr. 1, 2016-Mar.31, 2017 (1 year)
ㆍVAT refund process
1. The medical center issues a confirmation of supply of medical service to the foreign tourist.
2. The foreign tourist submits the certificate of confirmation to the VAT refund counter operator and receives the refunded VAT.
* ‘VAT refund counter operator’ means a person who operates a business of refunding or remitting the VAT or individual consumption tax that a foreign tourist paid when purchasing tax-free goods, in accordance with Article 5-2 of the Regulations on Special Cases Concerning Value Added Taxes and Individual Consumption Taxes for Foreign Tourists, etc.
3. The VAT refund counter operator reports VAT refund records to the medical center and the National Tax Service.
4. The medical center files a VAT return.