VAT Calculator (Korea)
Turn a VAT-exclusive supply value or a VAT-inclusive total into the 10% VAT, the supply value and the total, laid out in the lines a Korean tax invoice needs.
How to use
- Type an amount and pick whether it is the supply value (VAT excluded) or the total (VAT included).
- Check the rate: 10% for a standard taxable business, 0 for exempt and zero-rated supplies.
- The VAT, supply value and total appear at once and the copy button hands you the three lines.
- With a VAT-inclusive total the supply value and VAT are worked backwards.
FAQ
How is VAT calculated?
VAT = supply value × 10% and total = supply value + VAT: a supply value of KRW 1,000,000 gives VAT of KRW 100,000 and a total of KRW 1,100,000.
How do I back out VAT from a VAT-inclusive price?
Supply value = total ÷ 1.1 and VAT = total ÷ 11. KRW 100,000 inclusive is KRW 90,909 plus KRW 9,091 VAT.
Rounding or truncating?
The calculator rounds to the won, so KRW 12,345 gives VAT of KRW 1,235. A billing system that truncates can differ by KRW 1.
How is simplified-taxation VAT worked out?
Tax payable = supply price including VAT × the sector's value-added ratio × 10%, for example 15% for restaurants and retail. Enter the supply price and a rate of 1.5 to get that figure.