South Korean VAT tax invoices use 10% VAT and business registration numbers. Everhour keeps billable work organized before invoicing.
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Use this page to prepare a South Korean invoice that supports billing, VAT review, and client approval. South Korea uses VAT for taxable supplies of goods and services, so a VAT tax invoice identifies VAT, rather than GST or American sales tax. The standard VAT rate is 10% of the taxable supply value unless a zero-rate or exemption rule applies.
For a business-to-business invoice, the practical goal is simple: identify both parties, describe the supplied goods or services, separate the taxable supply value from the VAT amount, and show the date tied to the invoice record. Payment due dates are usually contractual in South Korea, so state the agreed term instead of assuming a universal net-payment period.
A South Korean VAT tax invoice must show the supplier's registration number and name or trade name, plus the business registration number of the person receiving the supply. It must also separately state the value of supply and the VAT amount, which allows the buyer to support input-tax credit claims under the VAT system.
The VAT Act also requires the date of preparation. Related decree rules add transaction particulars such as item details and supply date, so the invoice should identify the work, product, quantity, service period, or deliverable clearly. A clean line item pairs the description with the supply value and VAT amount instead of burying tax in one combined total.
South Korea has an electronic tax invoice regime for corporate businesses and individual businesses prescribed by Presidential Decree. Those businesses must issue electronic tax invoices rather than paper tax invoices. After issuance, the electronic tax invoice details must be transmitted to the National Tax Service by the statutory deadline, generally the day after issuance under the decree rules.
Timing also matters. A tax invoice is generally issued when the goods or services are supplied. The VAT Act permits statutory exceptions, including consolidated monthly issuance by the 10th day of the following month in permitted cases. Treat late preparation, missing buyer registration details, and a combined tax total as approval risks, because they weaken the buyer's invoice record.
A one-off invoice maker is enough when you have a finished scope, confirmed buyer details, a known supply value, the correct VAT treatment, and an agreed payment term. It also works for occasional billing when someone only needs a presentable document and will store the final invoice outside the tool.
A managed workflow becomes better when billable time, non-billable work, task rates, approvals, and invoice status all affect the amount charged. Everhour can separate billable and non-billable time by project billing status, task settings, custom task rates, and member-rate exceptions, then show billable time, non-billable time, billable amount, and cost in admin reports.
This content is for general information only, may not be fully up to date, and is provided without any warranty or liability.
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South Korea uses VAT for taxable supplies of goods and services. A compliant VAT tax invoice identifies the supply value and the VAT amount separately. The standard VAT rate is 10% of the taxable supply value unless a zero-rate or exemption rule applies, so the invoice should not label the tax as GST or American sales tax.
The business registration number is the tax-registration identifier used on Korean VAT tax invoices. The invoice must show the supplier's registration number and name or trade name, and it must also show the registration number of the person receiving the supply. Missing buyer registration details can block a clean tax invoice record.
Corporate businesses and individual businesses prescribed by Presidential Decree must issue electronic tax invoices rather than paper tax invoices. After an electronic tax invoice is issued, its issuance details must be transmitted to the National Tax Service by the statutory deadline, generally the day after issuance under the decree rules.
The VAT Act requires the date of preparation on a tax invoice. The invoice is generally issued when the goods or services are supplied, with statutory exceptions such as consolidated monthly issuance by the 10th day of the following month where the VAT Act permits it. The supply date and item details should match the transaction record.
South Korean VAT invoice-content rules do not set a universal net-payment period. Ordinary payment due dates are contract terms, so the invoice should state the agreed due date or payment window from the contract, purchase order, or client terms. Commercial overdue claims may be affected by the Commercial Act default-interest framework.
Everhour supports billable and non-billable time through project billing status, task-level non-billable controls, custom task rates, and member-rate exceptions. Admin reports can show billable time, non-billable time, billable amount, and cost, so the invoice amount comes from approved chargeable work.
Everhour Billing & Invoicing lets users select uninvoiced time and expenses, preview the breakdown, and generate an invoice from billable time, rates, and billable expenses. It marks invoiced time as invoiced, which prevents the same work from appearing again on a later invoice.
Track billable status before invoice day. Everhour gives teams project billing controls, task-level non-billable settings, custom rates, and admin billing reports that support cleaner client invoicing.
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