VAT rates in South Korea
| Rate | ₩100 net becomes | VAT inside ₩100 gross |
|---|---|---|
| 10% (standard) | ₩110 | ₩9 |
Worked examples at 10%
- Adding VAT: ₩250 × 1.1 = ₩275 (₩25 VAT).
- Removing VAT: ₩250 ÷ 1.1 = ₩227 (₩23 VAT).
Invoicing with VAT
If you're registered for VAT, your invoices need to show the amount without tax, the rate and the VAT separately. Our free invoice generator works it out and lays it out for you.