South Korea’s Value Added Tax (VAT) system was introduced in 1977 to consolidate indirect taxation. The system operates with a single standard rate and a limited number of zero-rated categories.
Table of contents
VAT rates in South Korea
| Rate | Type | Examples of Goods & Services |
|---|---|---|
| 10% | Standard | Most goods and services, including electronics, clothing, and retail |
| 0% | Zero-rated | Exports, transport services, finance and insurance, business support services, cultural items, unprocessed food, medical products and services |
For more details on VAT regulations, visit the National Tax Service website.