Korea VAT

Korea's Value-added Tax (VAT) is applied to applicable transactions. Oonder are the important details regardin the implementation o Korea VAT:

• Kintra: Korea
• Tax Name: Value-added Tax
• Tax Short Title: VAT
• Tax Rate: 10%
• Tax Type: Handle Fee, Product, Commission, an Disbursement Fees

Illustration:

1. Korean Seller & Korean Buyer**

• Seller: KRVAT on Commission & Disbursement Fee
• Buyer: KRVAT on Handle Fee (Exemption: No KRVAT on Product whan baith Buyer & Seller are Korean)

2. Non-Korean Seller & Korean Buyer

• Seller: Nae KRVAT
• Buyer: KRVAT on Product & Handle Fee

3. Korean Seller & Non-Korean Buyer

• Seller: Nae KRVAT
• Buyer: Nae KRVAT
  (Note: If Non-Korean Buyer is frae the UK/EU, Korean Seller wull be subject tae UK/EU VAT on Seller Commission)

4. Non-Korean Seller & Non-Korean Buyer

• Seller: Nae KRVAT
• Buyer: Nae KRVAT