Between 31 December 2009 and 1 January 2010 the Republic of Koreas National Assembly passed legislation1 which contained modifications to the tax law revision bills that had been proposed by the Ministry of Strategy and Finance "MOSF" in August 2009. The revised laws became effective as of 1 January 2010. In a follow-up measure, on 12 January 2010, the MOSF announced proposed changes in relevant Presidential Enforcement Decrees that are scheduled to be promulgated as of mid-February.