A VAT refund guide to South Korea
How to get VAT Refunds from South Korea for your business
Businesses registered in countries outside of South Korea can claim VAT refunds on any costs incurred in South Korea.
The below information details the requirements needed to be eligible for a VAT refund. This includes claimable expense types, South Korea VAT rates, deadlines and claiming periods.
Which countries have reciprocity with South Korea?
Austria, Australia, Belgium, Bosnia & Herzegovina, Canada, Denmark, Finland, France, Germany, Hong Kong, Iceland, Ireland, Japan, Luxembourg, Macedonia, Malta, Monaco, Netherlands, New Zealand, Norway, Sweden, Bulgaria, Slovenia, United Arab Emirates, the United Kingdom, the United States of America
For a more detailed explanation on what reciprocity means within the scope of VAT, click here:
What expenses are claimable in South Korea?
Entertainment
Entertainment
0%
Hotels & Accommodation
10%
Restaurants
0%
Events
Conferences, Trade Shows & Exhibitions
10%
Training Courses & Seminars
10%
Travel Related
Car Rental
0%
Fuel
0%
Public Transport
0%
Taxis
0%
General Expenses
Goods
10%
Inter-company charges
10%
Office Expenses
10%
Marketing Costs
10%
Professional Fees & AP invoices
10%
Additional Information
How far back can your business claim VAT from South Korea?
5 years retrospectively
What’s the foreign VAT deadline in South Korea?
30 June for all countries
How long does it take to receive a VAT refund from South Korea?
Need help with your VAT refund from South Korea?
You don’t have to do this alone. We’ve been helping companies reclaim foreign VAT refunds for over 20 years. We have the knowledge and technology to process your refunds quicker as well as attend to any unforeseen VAT authority queries that may arise.
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