South Korean VAT invoices require precise tax fields. Everhour keeps billable time organized before client billing starts.
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Use this page to prepare a South Korea invoice layout for services, project work, or taxable business supplies. The template should help you record the seller, buyer, line items, taxable supply value, VAT amount, issue date, and payment terms in a format the client can review without extra clarification.
South Korea uses VAT for taxable supplies of goods and services. A VAT tax invoice identifies VAT, not GST or United States sales tax, and the standard VAT rate is 10% of the taxable supply value unless a zero-rate or exemption rule applies.
A South Korean VAT tax invoice must show the supplier's registration number and name or trade name, plus the registration number of the person receiving the supply. The tax-registration identifier is the business registration number assigned under VAT registration rules, so a generic company number field is too vague for Korean VAT billing.
The invoice also needs the value of supply, the VAT amount, and the date of preparation. Related decree rules add transaction particulars such as item details and supply date. Keep the taxable supply value separate from VAT so the buyer can support input-tax credit records.
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 allowed cases. Your template should leave space for the supply date and the preparation date because those dates do different jobs.
Corporate businesses and individual businesses prescribed by Presidential Decree must issue electronic tax invoices instead of paper tax invoices. After an electronic tax invoice is issued, its details must be transmitted to the National Tax Service by the statutory deadline, generally the day after issuance under decree rules.
A free template is enough for a single invoice when you already know the client details, business registration numbers, taxable supply value, VAT amount, and due date. It also works for occasional billing where a person reviews every field before sending the document.
A managed workflow becomes useful when tracked time turns into invoice lines. Everhour supports billable and non-billable time through project billing status, task-level non-billable controls, custom task rates, member-rate exceptions, and admin reports for billable time, non-billable time, billable amount, and cost.
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 tax invoice should identify VAT, not GST or United States sales tax. The standard VAT rate is 10% of the taxable supply value unless a zero-rate or exemption rule applies.
A South Korean VAT tax invoice must include the supplier's registration number and name or trade name, and the registration number of the person receiving the supply. Use business registration number fields for both parties instead of a broad "tax ID" label that leaves the identifier unclear.
Yes. A VAT tax invoice must separately state the value of supply and the VAT amount. Combining them into one total weakens the buyer's records because the buyer needs the VAT amount shown clearly to support input-tax credit claims.
Corporate businesses and individual businesses prescribed by Presidential Decree 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 decree rules.
South Korean VAT invoice-content rules do not set a universal net-payment period. Ordinary due dates are contractual payment terms. Commercial overdue claims can be affected by the Commercial Act default-interest framework, so match the invoice due date to the contract.
Everhour lets admins set project billing status, mark specific tasks non-billable, use custom task rates, and set member-rate exceptions. Reports can show billable time, non-billable time, billable amount, and cost, so client invoices exclude work that should stay internal.
Everhour Billing & Invoicing turns tracked billable time and expenses into client invoices. Users can select uninvoiced time and expenses, preview the breakdown, and generate an invoice while excluding non-billable work that should not reach the client bill.
Track billable status before invoice prep starts. Everhour keeps billable and non-billable work visible by project, task, member, amount, and cost, giving teams cleaner billing records.
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