Consumption/VAT/Sales Tax in South Korea

Overview by
Nature of the Tax
Value Added Tax (VAT)
Standard Rate
Reduced Tax Rate
A 0% rate apply for exports.
Exclusion From Taxation
Goods for export, services rended outside Korea and other goods or services suppplied for foreign exchange earnings are zero-rated and the related input taxes incurred refundable.
Goods and services for basic life necessities, education, and medical services are also subject to exemption.
Method of Calculation, Declaration and Settlement
VAT is an indirect tax and is calculated as an output tax minus input tax to be deducted. VAT is in principle a general excise tax imposed on the consumption of all goods and services as well as on the importation of goods. More information on Invest Korea website.
Other Consumption Taxes
Special Excise Tax, Liquor, Tobacco Tax, Stamp, Energy, Environment, Transportation, Auto Tax, etc.

Any Comments About This Content? Report It to Us.

Read more See less

No content has been posted to this folder yet.
Be the first to feature your expertise related to Consumption/VAT/Sales Tax in South Korea!

  • Post any content you may have that features your expertise, such as a text article with business tips, presentation, market report, etc
  • By sharing your knowledge you gain more visibility for your profile not only on but across the web

Post your content now by simply clicking on the button below.

Check these folders already populated with content posted by other users:

Click here to find out more about key benefits and instructions for contributing to the site.


Post any content you may have that features your expertise and offers valuable information to the international trade community.

The more informative content you post the more visible your will be, as your valuable content will link directly to your profile.

Check these sample pages for illustration: