VAT was introduced in South Korea in 1977, allowing the country’s government to consolidate eight previous indirect taxes into one simpler levy.
It is applied at a standard rate of 10% on the supply of goods and services across the nation, with the exception of those that are zero-rated or exempt.
Every business that supplies goods or services (even those that are not for profit) to South Korean organisations or consumers must register for VAT in the country.
Source Innovate Tax
Collection of Country VAT guides on VATupdate.com, click HERE
