Print Invoice for South Korea

To ensure compliance with South Korean VAT regulations, your invoices must include specific mandatory details. A crucial element is the Business Registration Number (BRN) for both the supplier and the buyer, which serves as a primary identifier for tax purposes. Additionally, the invoice must clearly itemize the supply value (the net amount before tax) and the Value Added Tax (VAT) breakdown, with the standard VAT rate in South Korea being 10%. For business-to-business (B2B) transactions, issuing mandatory electronic tax invoices (e-tax invoices) is a compulsory requirement for all corporate taxpayers, and for individual businesses exceeding an annual turnover of KRW 100 million (reduced to KRW 80 million for sole proprietors in 2024). These e-tax invoices must be in XML format, digitally signed, and transmitted to the National Tax Service (NTS) system, typically within one day of issuance.

When choosing a free online invoice generator for South Korean invoices, prioritize tools that support local tax compliance. First, verify the generator allows for the inclusion of both the supplier's and buyer's Business Registration Numbers (BRNs), as these are mandatory fields. Ensure the tool correctly calculates and displays the 10% standard VAT rate, separating the supply amount from the VAT total. A common pitfall is using generic templates that lack these specific Korean compliance fields, rendering your invoice invalid for tax deduction purposes. While free online tools may not directly integrate with the NTS for mandatory e-tax invoice submission for B2B transactions, they should at least produce a printable document containing all required information, including the date of preparation.

Generating and printing a compliant invoice for South Korea involves a few key steps to ensure all mandatory details are captured.

1. Gather Mandatory Information: Collect the supplier's Business Registration Number (BRN) and legal name, the buyer's BRN (or ID/resident registration number for non-businesses), the net supply amount, the VAT amount (10% of the supply), and the date of preparation.
2. Input Details into Generator: Enter all collected information accurately into your chosen online invoice generator.
3. Itemize Services/Goods: Clearly list each item or service provided, including quantities and unit prices, if applicable.
4. Verify VAT Calculation: Double-check that the 10% VAT is correctly applied and distinctly shown from the supply value.
5. Review and Preview: Before finalizing, carefully review the entire invoice for any errors, especially focusing on BRNs, amounts, and the issuance date. Missing or incorrect fields can invalidate the invoice.
6. Generate and Print/Save: Use the generator's function to create the invoice. Most tools offer options to print directly or save as a PDF for your records. Remember that for B2B transactions, this printed document is generally for internal use, as an e-tax invoice must be electronically transmitted to the NTS.