Skip to main content
Read

South Korea

Overview of country specific accounting and VAT/Tax legislation

VAT/Tax Requirements

Applicable Types
  • VAT (IVA)
  • Import VAT
VAT/Tax Books:
  • Periodic VAT Return including listing of customer/vendor transactions (Electronic file for upload)
VAT/Tax Documents:
  • Government Invoice templates
Other Requirements:
  • Non-deductable input VAT

Usual Business Requirements

  • Promissory Notes

 

Requirements that exist in most countries, e.g. documentation of transactions, Annual Accounts or periodic reporting of VAT totals, are NOT listed above if no specific legislation exists about format or content.

DISLAIMER: No responsibility is taken of the correctness of above information. The specific accounting and VAT/Tax requirements for a company should always be confirmed with local auditors. The listed issues may not be applicable for all types of companies as well as additional issues may exist depending on the specific type of business.