Reporting of value-added tax
Payment of value-added tax
- Any individual, corporation, unincorporated association or foundation, or other organization as an entrepreneur, or a person who imports goods shall be liable to pay the value-added tax (Article 3(1) of the Value-Added Tax Act).
※ Further details on the reporting of VAT are available on the website of the ‘National Tax Service (
www.nts.go.kr).’
Reporting of income tax
Final report of global income tax base
- Any side dish store operator (including those with no global income tax base or any loss) with the amount of global income in the relevant taxable period shall file a return on the tax base of such global income with the head of a tax office having jurisdiction over the place for tax payment, from May 1 until May 31 in the year following such taxable period to informational self-determination (Article 70(1) of the Income Tax Act)
※ Further details on the reporting of income tax are available on the website of the ‘National Tax Service (
www.nts.go.kr).’