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South Korea

HISTORY

•Consumer Tax
 •10%
 •Currency: Won
 •Contact:  IVA Member - Insook Seo Lim
                www.WWVAT.com

•No VAT charged if entire payment is made in foreign currency (not Korean Won)
 •VAT not charged on hotel bills for foreigners (but it is charged on the “Service Charge” on a hotel bill)
 •Deadline: June 30th, for previous calendar year expenses •300,000 Won minimum claim amount
(approximately  Euro / USD 300)

DOCUMENTS REQUIRED

•Power of Attorney
 •Questionnaire
 •Certificate of Residency from Applicant’s local tax authority •Original Invoices / Receipts  with  Proof  of  Payment

DEDUCTIBLE EXPENSES

•Hotel
 •Meals
 •Tradeshows / Conference Expenses

•Office Expenses

•Professional Services

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