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Standard VAT Rate: 10%

VAT Registration

Neither a non-resident business entity nor a non-resident individual without permanent establishment in Korea is obliged to register for VAT purposes.

Automate your VAT compliance processes in SAP

VAT Returns

There are two return periods each year, i.e. 1 January to 30 June, and 1 July to 31 December. However, preliminary VAT returns are required for the periods 1 January to 31 March, and 1 July to 30 September.

The VAT return should be filed within 25 days (50 days in the case of a foreign company's Korean branch) after the end of each calendar quarter.

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