In December there are no major tax filing in this month. So you might think that tax firms are not much to do in this month, However Decemeber is really important and busy month because VAT filing is coming in next year January.
So, it's important to preapre it. we can calculate the VAT payable amounts in advance so that you can prepare for the tax payment!
Below is the postings I wrote about VAT, I can sure at least one of them are useful for your business!
Please chceck and if you have any questions related to this, Please let me know that I can assist you and your businessIn December, there are no major tax filings scheduled for this month. One might assume that tax firms have less to do during this period. However, December is a crucial and bustling month because VAT filings are due in the coming January.
Hence, it's essential to prepare in advance. Calculating the VAT payable amounts ahead of time allows for adequate preparation for the upcoming tax payment.
Below are the posts I've written about VAT, and I'm confident that at least one of them will prove beneficial for your business!
Please take a look, and if you have any questions related to this, feel free to let me know. I'm here to assist you and your business.
[VAT] Tax Rate for services acquiring foreign currencies -4(Countries grants the identical tax exemption to resident in the Kore
VAT] Tax Rate for services acquiring foreign currencies (How to Qualify for the 0% VAT Tax Rate -3) The standard VAT (Value Added Tax) rate in Korea is 10%, and it applies to almost all goods and services provided by your company to clients, except for cer
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[VAT] Tax Rate for services acquiring foreign currencies (How to Qualify for the 0% VAT Tax Rate -3)
The standard VAT (Value Added Tax) rate in Korea is 10%, and it applies to almost all goods and services provided by your company to clients, except for certain non-VAT items. Consequently, when sending invoices to clients, your company adds a 10% VAT to t
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[VAT] Tax Rate for services supplied overseas (How to Qualify for the 0% VAT Tax Rate -2 )
The standard VAT (Value Added Tax) rate in Korea is 10%, and it applies to almost all goods and services provided by your company to clients within the country, except for certain non-VAT items. Consequently, when sending invoices to clients, your company
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[VAT] Tax Rate for Exports in Korea (How to Qualify for the 0% VAT Tax Rate -1 )
The standard VAT (Value Added Tax) rate in Korea is 10%, and it applies to almost all goods and services provided by your company to clients within the country, except for certain non-VAT items. Consequently, when sending invoices to clients, your company
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[VAT]How to Prepare for Value Added Tax (VAT) filing
1.why it's important? VAT filing is an important tax filing that businesses need to do each year. It confirms the company's revenue and purchases related to VAT. This means that the reported income is roughly verified and submitted to the Korea tax office.
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[VAT]Why Your Meal Expenses Are Not VAT Deductible for Your Business?
1.Entertatinment expense As you run your business, you may occasionally treat your clients to luch , dinner, or some gift. and we can account for these costs are "entertainment expense" on your income statement. The rule for VAT deduction is, if you spend
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[VAT]Have you heard of Tax invoice?
I assure You would know ‘invoice’ but have you heard of Tax invoice? 1.Almost every transaction require Tax invoice In Korea In Korea there is a unique system called the tax invoice. and it is required for every transaction that occurs between business
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[VAT]Learn How to Get VAT Deductions for Your Fuel Expenses - Are You Eligible?
You may use your car for visiting clients or commuting. and by running a car, expense such as fuel,engine oil changes and car inspections are unavoidable. If you are using your car for your business, these expenses are considered business-related costs, wh
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[VAT] Penalty you should pay when you fail to issue Tax invoice In Korea
By now, you may already be familiar with the concept of a tax invoice in Korea. This unique system is overseen by the Korea Tax Office. However, if you are not acquainted with this topic, I encourage you to refer to the post below for more information Have
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[VAT] Are you familiar with the concept of a 'Corrected Tax Invoice'?
Have you come across the concept of a 'Corrected Tax Invoice'? A Corrected Tax Invoice is a type of invoice used to rectify errors or amend details on a previously issued tax invoice, primarily due to inaccuracies in the initial tax invoice or changes in t
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[VAT]Corrected Tax Invoice issuance: A Step-by-Step Guide with Screenshots
In our previous post, we discussed how to make corrections to a tax invoice that has already been issued forvarious reasons such as transaction cancellations, product or service returns, or errors in the invoice information. [VAT] Are you familiar with the
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