Standard VAT rate

10%

Country code

KR

Reduced VAT rates

N/A

Super reduced rate

N/A

VAT returns

Quarterly

VAT number format

123-45-67891

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Latest news from South Korea

New VAT rate on electronic services in South Korea

As of 1 July 2015, electronic services (applications, e-books, MP3, music, films, etc.) supplied by a foreign service provider are now subject to 10% Korean VAT. ¬†As a result of this, the Korean National Tax Service has implemented a simplified VAT registration procedure for electronic service providers and those affected should register within 20 days… Read More