What goes into each box - South Korea VAT report
The following table shows how NetSuite uses the tax codes to get the values for the General Value-Added Tax Return form for the Republic of Korea.
|
Box |
Net Amount |
Tax Amount |
|
|---|---|---|---|
|
Tax base and sales tax |
|||
|
1 |
Tax invoice issued |
S |
S |
|
2 |
Tax invoice issued by purchaser |
SP |
SP |
|
3 |
Other |
SO |
SO |
|
4 |
Tax invoice issued (zero rate) |
Z |
|
|
5 |
Other (zero rate) |
ZO |
|
|
6 |
Omitted preliminary return |
Editable field |
Editable field |
|
7 |
Bad debts tax credits |
Editable field |
|
|
8 |
Total |
1+2+3+4+5+6 |
1+2+ 3+6+7 |
|
Purchase tax |
|||
|
9 |
Tax invoice received (general purchase) |
S |
S |
|
10 |
Tax invoice received (fixed asset purchase) |
CAP |
CAP |
|
11 |
Omitted preliminary return |
Editable field |
Editable field |
|
12 |
Tax invoice issued by purchaser |
SP |
SP |
|
13 |
Other purchase tax deduction |
SO |
SO |
|
14 |
Total |
9+10+ 11+12+13 |
9+10+ 11+12+13 |
|
15 |
Purchase tax amount not deductible |
Editable field |
Editable field |
|
16 |
Amount deducted |
14 - 15 |
14 - 15 |
|
|
Tax amount due (total sales tax amount minus total purchase tax amount) |
8 - 14 |
|
|
Reduced rate |
|||
|
17 |
Other reduced rate deduction |
Editable field |
|
|
18 |
Tax credit on cash receipt issuer, etc. |
Editable field |
|
|
19 |
Total |
17+18 |
|
|
20 |
Preliminary return tax amount not refunded |
Editable field |
|
|
21 |
Preliminary return tax noticed |
Editable field |
|
|
22 |
Special VAT on gold metal trade |
Editable field |
|
|
23 |
Penalty total |
Editable field |
|
|
24 |
Payable tax amount after deduction and addition (refundable tax amount) |
Tax amount due - Total reduced rate - 20-21-22+23 |
|
|
|
Payable tax amount of combined payment (refundable tax) |
Sum of all payable tax amounts for all subsidiaries + parent company |
|