1. Localizations for South Korea
  2. Understanding VAT for South Korea

Understanding VAT for South Korea

Value-added tax (VAT) is a noncumulative tax that is imposed at each stage of the production and distribution cycle.

Businesses in South Korea are required to submit reports that list transactions involving VAT.

Note: For common VAT processing, please refer to the "Working with Generic VAT Processing" in the JD Edwards EnterpriseOne Applications Tax Processing Implementation Guide.