Harvest
Invoices
Sign up

Invoice Template for South Korea

Harvest offers flexible invoice customization options, including VAT details, to meet diverse business needs in South Korea. Easily include business registration numbers and provide a proper VAT breakdown at the standard 10% rate.

INVOICE DRAFT

Add your logo here
Item type
Description
Quantity
Unit price
Tax
Amount
Subtotal
$0.00
Discount
$0.00
Amount Due
$0.00
Get paid via:
Credit card / Debit card
ACH
Wire transfer
Powered by

Customise invoice

Appearance

Add a logo
Show invoice title

Invoice settings

Tax Add up to 2 tax rates
%
Discount Apply a discount percentage
%

Key Features of a VAT-Compliant Invoice Template for South Korea

A VAT-compliant invoice template for South Korea must include specific mandatory elements to ensure legal validity and adherence to National Tax Service (NTS) regulations. Crucially, the template needs fields for both the supplier's and buyer's Business Registration Numbers (BRN) and legal trade names. It must clearly itemize the supply amount (net transaction value before VAT) and the Value Added Tax (VAT) amount, applying the standard 10% VAT rate. The date of issuance is another essential field. For compliance with the NTS e-Tax system, which mandates electronic tax invoices (e-tax invoices) for most businesses, the template should support XML format and digital signatures for transmission to the NTS, typically within one day of issuance.

How to Select and Use an Invoice Template for South Korea

When selecting an invoice template for South Korea, prioritize its compatibility with the NTS e-Tax system, as electronic tax invoices are mandatory for most corporate and individual businesses exceeding certain revenue thresholds. Look for templates that support the required XML format and allow for digital signatures.

To effectively use a chosen template:

  • Verify Mandatory Fields: Ensure all required elements, such as supplier and buyer BRNs, supply value, VAT amount, and issue date, are present.
  • Input Accurate Details: Populate your business information and the customer's details precisely.
  • Calculate VAT Correctly: Apply the standard 10% VAT rate to the supply amount.
  • Digitally Sign and Transmit: After issuance, digitally sign the e-invoice and transmit it to the NTS, ideally within one day or by the 10th of the following month.

Common pitfalls include missing mandatory fields, which can render an invoice legally void, and failing to transmit e-invoices to the NTS, incurring penalties ranging from 0.3% to 2% of the supply value.

See Your South Korean Invoice Template in Action

Preview how your invoice will appear with mandatory BRN fields and VAT breakdown, fully compliant with South Korea's e-Tax requirements.

Invoice Template for South Korea FAQs

  • A South Korean invoice must include the supplier's and buyer's Business Registration Numbers (BRNs), legal trade names, a detailed breakdown of the supply amount and the Value Added Tax (VAT) amount at the standard 10% rate, and the date of issuance. Compliance with National Tax Service (NTS) regulations is essential, including support for XML format and digital signatures for electronic invoicing.
  • Harvest allows you to include your business registration number and VAT breakdown on invoices, ensuring they meet South Korea's VAT compliance requirements.
  • Harvest offers various support options, including a comprehensive help center with articles and guides, email support, and live chat assistance during business hours. Users can access resources tailored to their questions and issues.
  • Electronic invoicing in South Korea can be limited by the need for strict adherence to format and transmission rules set by the National Tax Service. Businesses must ensure that invoices are in the correct XML format and are digitally signed, with timely submission to avoid penalties. Additionally, smaller businesses may face challenges in adopting electronic systems if they lack the necessary infrastructure.
  • Harvest supports customization for international transactions, allowing you to create well-formatted PDF invoices that meet your business needs.