e-Invoicing in South Korea

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Characteristics of the electronic invoice in South Korea

Electronic invoicing in South Korea has been expanding in both B2B and B2G since 2011. The invoicing system is called e-Tax. 

Tax Authority

Tax Authority

NTS (National Tax Service)

Obligation

Obligation

Since 2014, all taxpayers whose sales exceed KRW 300 million (USD 264.5 thousand) per year must issue their VAT invoices electronically in real-time. The invoices must be sent to the National Tax Service (NTS).

From 1 July 2022, the threshold will be lowered to KRW 200,000,000 (around $160,000). The South Korean tax authority has also announced from 1 July 2023 the threshold will be reduced further to KRW 100,000,000 (around $83,000).

Required Administrative Transactions

Required Administrative Transactions

The issuer must register with the NTS as a taxpayer and download a digital certificate to sign the invoices.

Format

Format

XML

Digital Signature

Digital Signature

Mandatory

Archiving

Archiving

5 years.

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Related resources

Implementation of e-Invoicing around the world

The technical and legal requirements for e-Invoicing are different in each country. If you want to know the details and tax obligations of any particular country, just click on the map or choose a country from the dropdown list.

AlbaniaAngolaArgentinaAustraliaAustriaBahrainBelgiumBeninBoliviaBrazilBurundiCanadaCape VerdeChadChileChinaColombiaCosta RicaCôte d'Ivoire CroatiaCyprus Democratic Republic of CongoDenmarkDominican RepublicEcuadorEgyptEl SalvadorEstoniaFinlandFranceGermanyGhanaGreeceGuatemalaHungaryIndiaIndonesiaIrelandIsraelItalyJapanJordanKazakhstanKenyaLatviaLesothoLithuaniaLuxembourgMalaysiaMauritiusMexicoThe NetherlandsNew ZealandNigerNigeriaNorwayOmanPakistanPanamaParaguayPeruThe PhilippinesPolandPortugalRomaniaRussiaRwandaSaudi ArabiaSenegalSerbiaSingapore SlovakiaSloveniaSouth AfricaSouth KoreaSpainSwedenSwitzerlandTaiwanTanzaniaThailandTogoTunisiaTurkeyUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVietnamZambiaZimbabwe

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