Threshold on electronic reporting of e-invoices cut to KRW 100m from 1 July 2023 South Korea’s near real-time e-invoicing regime will be made mandatory for a larger group of companies as it cuts the reporting annual sales threshold from KRW 200m to KRW 100m (approx.
Threshold on electronic reporting of e-invoices cut ahead of live reporting South Korea’s near real-time e-invoicing regime will be made mandatory for a larger group of companies as it cuts the reporting threshold from KRW 300m to KRW 200m from 1 July 2022. Plans for
South Korea first introduced mandatory real-time electronic tax invoice (e-Tax) requirements in 2011, expanding it to most taxpayers by 2014. This includes pre-clearance of sale invoices with the Korean National Tax Agency (NTA) before issuance to customers. Check VAT Calc’s global live VAT invoice transaction and
South Korea is to implement on-demand transaction reporting from 1 July 2022 for non-resident suppliers of digital or electronic services. Korea first implemented VAT on digital services in July 2015. Non-residents registered for digital services are obliged to maintain transactional-level details for at least five
South Korea implemented its 10% Value Added Tax on foreign providers and marketplaces of digital or electronic services to its consumers from 1 July 2015. There is no VAT registration threshold. There is a simplified electronic services registration. Follow VAT Calc’s global VAT and GST on