North Korea – Asia (International) – FAQ

How are Giftcards treated for tax purposes in North Korea (VAT, single-purpose / multi-purpose)?

There is no freely applicable turnover tax system based on western standards. Giftcards are used as internal means of payment in state regulated retail chains. Tax effects are administered, not set out by law.

What consumer rights apply in North Korea for expired Giftcards?

Because there is no free consumer protection system, there are no individually enforceable consumer rights. Giftcards are subject to state set administrative deadlines and lose validity upon expiry without a right to refund.

Is there a legal rule in North Korea on the validity period of Giftcards?

In North Korea (DPRK), no publicly accessible legal rules on the validity period of Giftcards are known. The Giftcard market is tightly state controlled; issuance systems are usually administered by state trade organisations. Validity is determined internally by administrative rules.

What special rules apply in North Korea to the sale, issuance, or redemption of Giftcards?

Giftcards (for example, food or consumer Giftcards) are issued by the state and are not freely tradable. They usually serve the controlled distribution of goods. Private Giftcard providers do not exist.