VAT report for business with sales or purchase (매출·매입있는) - at the National Tax Service, on the Hometax website.
In Korea when you have a business it is mandatory to report your taxes like in any other country. You have to make a report every trimester on the website of Hometax or in person at the Hometax office (세무서).
Below we will show you how and when to report the VAT for your business that has sales or purchases (매출·매입있는).
Make sure you register ONLY invoices that have tax deducted (or have the tax written on them or is possible to be deducted) and that have your business registration number and name on them.
*any of those who don't is not considered applicable
First, if you want to register your taxes online you will have to take some specific steps.
Go to the nearest hometax office (세무서) and ask for the hometax card (home tax verification card), which is a card, with different numbers, that you should use when registering some taxes on the website.
To make an account you will need the 공인인증서 from the bank (the application can be done online with the ID and password provided by the bank, for your business account - in case you don't know them, visit the nearest bank branch)
Make an account on the Hometax website with your own business certificate (공인인증서)
How to take the home tax verification card:
- You can get this card from any nearby tax office (세무서)
- You need your ID card, corporate stamp (seal) and the stamp (seal) certificate (인감 and 인감증명서), and the application form (from the tax office)
- The application and receiving take around 5 minutes
How to register on the Hometax website:
1. First go to the website: https://www.hometax.go.kr/
2. Make an account with the 공인인증서
3. Log in
There are several login methods, so you can log in with the method that is convenient for you.
You can check the dates for the tax filling on the website. (Dates can be subjected to change, so check the website for each year in advance - below you have a 2022 example)
General taxpayer - final report
Subject to report: All taxable businesses except for simplified taxable persons
(1st period confirmed) Periodic report and payment period: 7. 1. ∼ 7.25.
(Second term confirmed) Periodic report and payment period: 1. 1. ~ 1.25.
Subject to report: General corporation
However, individual general entrepreneurs and small corporations (less than 150 million won in sales in the previous year) can file a scheduled return if their business is sluggish or an early refund occurs
(1st term scheduled) Periodic reporting and payment period: 4. 1. ∼ 4.25.
(2nd term scheduled) Periodic reporting and payment period: 10.1. ~ 10.25.
Reporting:
Click on the banner from the website to go directly to the desired page
or
Click 'VAT' in the Report/Pay tab (신고/납부 탭에 '부가가치세' 클릭)
Click 'Regular birth rate (confirmed/planned)' in the 'Simple taxpayer' tab on the left (왼쪽 '간이과세자' 탭에서 '정기산고 (확정/예정)' 클릭)
Enter 'Business Registration Number' in Basic Information Input and click 'Confirm' (기본정보 입력에서 '사업자등록번호'를 입력하고 '확인'을 누르면)
The details are automatically displayed in the details of the operator below, and after confirmation, 'Save and move to next' (아래 사업자 세부사항에 자동으로 세부사항이 나타나며, 확인후 '저장 후 다음이동')
Select the form you want to enter and fill in the form until you submit the report. When you choose, the formatting you enter appears as a menu on the left. The format corresponding to the main business code is selected by default as follows. (입력할 서식을 선택 하신 후, 신고서 제출까지 내용을 입. 체크 표시를 하면 왼쪽에 입력할 서식이 메뉴로 나타납니다. 주업종코드에 해당하는 서식은 아래와 같이 기본적으로 선택됩니다.) ※ You must check the options at the bottom of the screen to enter the report for matters corresponding to the reduction, deduction details/additional tax/scheduled notice (report). ("경감.공제내역/가산세/예정고지(신고)"에 해당되는 사항은 반드시 화면하단의 선택사항을 체크하셔야 신고서 입력이 가능합니다.)
A screen appears to register sales/buy. Here, under Tax Base and Sales Tax, click Next to Tax Invoice Issuance. (매출 /매입을 등록하는 화면이 나옵니다. 여기서 과세표준 및 매출세액에서 과세세금계산서 발급분 옆에 작성하기를 클릭합니다.)
If you have an electronic tax invoice. Click Get Electronic Tax Invoice. (전자세금계산서가 있을 수도 있으니.전자세금계산서 불러오기를 클릭해줍니다. )
If there is no tax invoice "There is no e-tax invoice aggregate data". Confirm that the message appears. (만약 세금계산서가 없다면. 전자세금계산서 집계 데이터가 없습니다. 라는 문구가 나오는걸 확인해줍니다.)
Then we will register the paper tax invoice.
The paper tax bill is down a little bit. There are specifications for each customer, such as paper tax invoices and the electronic tax invoice issued after the deadline for the transmission period. (종이세금계산서는 조금더 밑에 내려가면. 종이세금계산서와 전송기간 마감일이 지난 전자세금계산서 발급분 등 매출처별 명세 작성이 있습니다.)
You write put the business registration number in the middle and press OK. (여기서 중간에 사업자등록번호를 넣고 확인을 누르면 됩니다.)
You can collect the same business registration certificate at once and insert the number of copies at once. It is also possible to put one item at a time. (사업자등록증이 같은건 한번에 모아서 매수를 한거번에 넣을수있지만. 1건 1건 넣어도 무방합니다.)
You need to add input contents for one thing to register as below. You need to check again whether the supply price of the paper tax invoice and the tax invoice for each customer below are correct. (한건 한건 입력내용 추가를 해야 아래처럼 등록이 됩니다. 종이세금계산서 공급가액 금액과 아래 매출처별 세금계산서 합계가 맞는지도 다시한번 꼭 확인해야합니다.)
If you forget or if the number is wrong. After completing the input, the tax base specification amount below should be added to save and move to the next. Click Fill it out and put in the amount. That's it! (까먹거나 숫자가 틀릴 경우. 입력완료 후 아래 과세표준 명세 금액을 넣어야 저장후 다음이동이 됩니다. 작성하기 클릭하고 금액을 넣으면 끝!)
After clicking write the same input tax amount. Click to check if there is an e-tax invoice. (매입세액도 똑같이 작성하기 클릭 후. 전자세금계산서 있는지 불러오기 클릭 확인하고)
When you register "Reduced / deductible tax" you can claim an e-filing tax credit. (다 등록하면 "경감 · 공제세액" 전자신고 세액공제를 받을 수 있습니다.)
The e-filing tax credit is 10,000 won.
When the final tax payment is confirmed - If the amount is negative, it is a refund letter.( 종납부세액이 확인이 되면 - 마이너스 금액이면 환급이서)
Also, you can check the report later in the report history inquiry (신고내역 조회에서).
Additional:
When you go to the tax office they will give you some brochures with information, below are the ones we received when we went there.
They may send you an envelope at home as well. Below is the one we received.
Don't forget to check the website and application for more information or visit the tax office in person.
And submit your reports on time in case you don't want to receive a fine!
*Don't forget to submit the reports even if your business doesn't have purchases or sales.
Credit: Some of the information is taken from the Bogus Naver blog.
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