Compulsory joining for Cash Receipt System

Every business entity in Korea who is suppling goods for the consumers should join the Cash Receipt System compulsorily.

Insight from the quaterly VAT filing in Korea.

Every incorporated company should file VAT to the tax authority quarterly basis.

Purchase and Sales documents and making receipt book

For the tax purpose, there are some kinds of documents every business should keep.
These are as below.

Others to avoid the additional tax

There are some regulations to be complied with, to avoid the additional tax.

The corporate tax rate in Korea.

1. The corporate income tax rate in Korea is as below.

2. The residence tax is 10% of corporate income tax.

3. The VAT(Value Added Tax) rate is 10% of the goods & services price.

Tel: 02-555-3919 from Korea,+82-2-555-3919 from abroad. Email: energy17jyw@gmail.com

2013 2Q VAT filing in Korea

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.