What goes into each box -South Korea VAT report

Note:

Nondeductible tax codes created by checking the 100% Non-deductible box on the Tax Code page is not supported. If you want to create nondeductible tax codes that will work with International Tax Reports SuiteApp, see Setting Up Nondeductible Input Tax.

The following table shows how NetSuite uses the tax codes to get the values for the General Value-Added Tax Return form for the Republic of Korea.

Box		Net Amount	Tax Amount
Tax base and sales tax
1	Tax invoice issued	S	S
2	Tax invoice issued by purchaser	SP	SP
3	Other	SO	SO
4	Tax invoice issued (zero rate)	Z
5	Other (zero rate)	ZO
6	Omitted preliminary return	Editable field	Editable field
7	Bad debts tax credits		Editable field
8	Total	1+2+3+4+5+6	1+2+3+6+7
Purchase tax
9	Tax invoice received (general purchase)	S	S
10	Tax invoice received (fixed asset purchase)	CAP	CAP
11	Omitted preliminary return	Editable field	Editable field
12	Tax invoice issued by purchaser	SP	SP
13	Other purchase tax deduction	SO	SO
14	Total	9+10+11+12+13	9+10+11+12+13
15	Purchase tax amount not deductible	Editable field	Editable field
16	Amount deducted	14 -15	14 -15
	Tax amount due (total sales tax amount minus total purchase tax amount)		8 -14
Reduced rate
17	Other reduced rate deduction		Editable field
18	Tax credit on cash receipt issuer, etc.		Editable field
19	Total		17+18
20	Preliminary return tax amount not refunded		Editable field
21	Preliminary return tax noticed		Editable field
22	Special VAT on gold metal trade		Editable field
23	Penalty total		Editable field
24	Payable tax amount after deduction and addition (refundable tax amount)		Tax amount due -Total reduced rate -20-21-22+23
	Payable tax amount of combined payment (refundable tax)		Sum of all payable tax amounts for all subsidiaries +parent company

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