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South Korea Tax Information

10% VAT

VAT is 10% flat. Electronic tax invoices mandatory for B2B. Business registration number required.

SaaS Services to Invoice

  • Monthly subscription
  • Annual subscription
  • Usage-based charges
  • Overage fees
  • Add-on features
  • Setup fees
  • Enterprise licensing

Invoice Requirements in South Korea

Business Registration Number
Business address
Client details
VAT (10%)
Total in KRW

Payment Terms

Prepaid monthly or annually. Enterprise contracts may be Net 30.

현금익월말30일60일

Payment Methods in South Korea

Bank TransferCredit CardKakao PayNaver Pay

SaaS Invoice Tips

  • Include subscription period
  • Show plan details
  • Detail overages separately
  • Reference account ID
  • Include next billing date

Frequently Asked Questions

What tax rate applies to saas invoices in South Korea?

South Korea has 10% VAT. VAT is 10% flat. Electronic tax invoices mandatory for B2B. Business registration number required.

What payment methods are common for saass in South Korea?

Common payment methods in South Korea include: Bank Transfer, Credit Card, Kakao Pay, Naver Pay. Prepaid monthly or annually. Enterprise contracts may be Net 30.

What should saas invoices include in South Korea?

Your invoice should include: Business Registration Number, Business address, Client details, VAT (10%). For saas services specifically, also include: Monthly subscription, Annual subscription, Usage-based charges.

How should SaaS companies invoice?

Include plan name, billing period, base price, overages, and total. Reference account ID.

How to handle usage-based billing?

Track usage throughout period. Invoice base plus overages with usage details.

What is Korea's VAT rate?

Flat 10% on most goods and services.