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Korea VAT

Korea's Value-added Tax (VAT) is applied to applicable transactions. Below are the important details regarding the implementation of Korea VAT:

  • Country: Korea

  • Tax Name: Value-added Tax

  • Tax Short Title: VAT

  • Tax Rate: 10%

  • Tax Type: Handling Fee, Product, Commission, and Disbursement Fees

Illustration:

  1. Korean Seller & Korean Buyer

    • Seller: KRVAT on Commission & Disbursement Fee

    • Buyer: KRVAT on Handling Fee (Exemption: No KRVAT on Product when both Buyer & Seller are Korean)

  2. Non-Korean Seller & Korean Buyer

    • Seller: No KRVAT

    • Buyer: KRVAT on Product & Handling Fee

  3. Korean Seller & Non-Korean Buyer

    • Seller: No KRVAT

    • Buyer: No KRVAT
      (Note: If Non-Korean Buyer is from the UK/EU, Korean Seller will be subject to UK/EU VAT on Seller Commission)

  4. Non-Korean Seller & Non-Korean Buyer

    • Seller: No KRVAT

    • Buyer: No KRVAT

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