Overview of VAT Reporting for Korea

This section provides the different Value Added Tax (VAT) reports for Korea:

Here are the different Value Added Tax (VAT) reports for Korea:

• Tax Invoice Summary by Customer
• Tax Invoice Summary by Supplier
• Tax Summary by Customer Electronic Media Report
• Tax Summary by Supplier Electronic Media Report
• Exempt Tax Invoice by Supplier
• Exempt Tax Invoice by Customer
• VAT Tax Report (Receivables Tax Invoice or Tax Invoice for Output Transactions)

The VAT Tax Report for Korea has to start before the Tax Invoice Summary by Customer report. From AR side, this VAT Tax Report process is used to generate tax invoices that must be run first before the tax invoice summary.