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Republic of Korea
VAT
Tax Rate
10%
(may be exempted in exceptional cases)
Tax Base
Transaction price of goods or services provided by a company or individual entrepreneur in Korea
Basic Structure
A company or individual must issue a tax invoice when providing goods or services. A company or individual can recover VAT spent through the tax invoice received when purchasing goods or services.
GTI's support partner in Korea
JUDONG OH
Judong is a partner supporting the Korean section of "Global Tax Inside". He was in charge of tax affairs for foreign corporations as a senior manager at one of the Big 4 accounting firms, and is now working as an international tax partner at Daseung Tax Firm.
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