All of the
incorporated entity in Korea should file its 2Q VAT by 25th July. So
this month is a little bit busy month for all company.
The VAT rate in
Korea is 10% for all of the local sales, and the purchase VAT is deductible.
A company will
prepare all of tax invoices, company credit card receipts and cash receipts as
well. And the accounting firm will make a book and tax filing forms and declare
it to the tax authority.
