Cryptocurrency Q&A
How much is Korean VAT?
How much is Korean VAT?
IncheonBeautyBloom
Sat Mar 30 2024
|
7
answers
1444
Excuse me, I am quite curious about the matter of Korean VAT. Could you kindly enlighten me on the current rate of VAT in South Korea? I am planning to make a purchase there and would like to understand the taxes involved. Also, are there any specific items or services that are taxed differently? Your assistance in clarifying this matter would be greatly appreciated. Thank you for your time and attention.
7 answers
Sara
Mon Apr 01 2024
The standard VAT rate in Korea is 10.00%, which falls below the average VAT/GST rate in the Organization for Economic Co-operation and Development (OECD).
Was this helpful?
245
61
Nicolo
Mon Apr 01 2024
As of December 31, 2022, the average VAT/GST standard rate across the OECD member countries was 19.2%.
Was this helpful?
47
41
DondaejiDelightfulCharmingSmile
Sun Mar 31 2024
BTCC strives to provide a secure and user-friendly platform for crypto transactions, making it easier for individuals and institutions to access the crypto market.
Was this helpful?
299
46
CosmicDream
Sun Mar 31 2024
Korea applies a reduced VAT rate of 0% to selected inputs for agriculture, fishery, livestock, and forestry.
Was this helpful?
222
70
emma_carter_doctor
Sun Mar 31 2024
Certain equipment for disabled persons also benefits from the reduced VAT rate of 0% in Korea.
Was this helpful?
147
54
Load 5 more related questions
