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