VAT number in Korea (or its equivalent) Thread poster: marek tesina
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marek tesina 
Czech Republic
Local time: 22:09
English to Czech
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Dear colleagues,
I have a question related to work with Korean agency. The collaboration with them started just a few months back and so far it was great, good communication with PM's, steady workflow etc. Problem started when I issued the Invoice. Don't take me wrong, the payment was on time and in full amount, but when the VAT was due in my home country (Czech republic) my accountant told me she was not able to find out if they were payers of VAT and had to add 21% of VAT to their... See more Dear colleagues,
I have a question related to work with Korean agency. The collaboration with them started just a few months back and so far it was great, good communication with PM's, steady workflow etc. Problem started when I issued the Invoice. Don't take me wrong, the payment was on time and in full amount, but when the VAT was due in my home country (Czech republic) my accountant told me she was not able to find out if they were payers of VAT and had to add 21% of VAT to their Invoice, which I was not charging them. Every since then I am talking with the agency PM about it, asking for VAT number, but it seems like they don't know what I'am asking for, saying I am first translator asking for it. That seems quite odd to me. Does any of you have any experience working with Korean agencies? What do they use for VAT purposes? Maybe Company number (registration number)? Thank you for your help. Marek ▲ Collapse
| | | | | You do not have to charge VAT | Nov 4, 2013 |
to a non-EU company!!!!
| | | | marek tesina
Czech Republic
Local time: 22:09
English to Czech
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TOPIC STARTER | Well, that's what I thought, | Nov 4, 2013 |
but my accountant asked for it. Is she wrong? If so i have to doubt everything she says in the future and will have to look elsewhere for the services.
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Sheila Wilson
Spain
Local time: 21:09
Member (2007)
English
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| You need an expert in exports | Nov 4, 2013 |
Maybe she specialises in PMEs. They rarely export, in the main. We're unusual in being micro enterprises with anything up to 100% of our income coming in from abroad, often in other currencies. In that way we're more like multi-nationals.
| | | | Jonas Palussek
South Korea
Local time: 05:09
Member (2014)
Korean to German
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| VAT for cross border electronic services in Korea | Nov 30, 2016 |
The topic is years old but for anyone finding this I just want to add this link http://sovos.com/blog/korea-amends-cross-border-supply-electronic-services-vat-scheme/ For some time companies providing b2b electronic services to Korea had to register for VAT in Korea. They then changed it to b2c only. I also just read that translation services in Korea... See more The topic is years old but for anyone finding this I just want to add this link http://sovos.com/blog/korea-amends-cross-border-supply-electronic-services-vat-scheme/ For some time companies providing b2b electronic services to Korea had to register for VAT in Korea. They then changed it to b2c only. I also just read that translation services in Korea are exempt from charging VAT. This might explain why the company did not know what you were talking about. All in all its very confusing.
[Edited at 2016-11-30 03:04 GMT] ▲ Collapse
| | | | jyuan_us
United States
Local time: 16:09
Member (2005)
English to Chinese
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| It is a good question. | Nov 30, 2016 |
marek tesina wrote:
my accountant told me she was not able to find out if they were payers of VAT and had to add 21% of VAT to their Invoice, which I was not charging them.
But, what did you mean by "their Invoice"? I think it is you who would invoice your Korean client, right?
| | | | marek tesina
Czech Republic
Local time: 22:09
English to Czech
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TOPIC STARTER
jyuan_us, you are right, sorry for the confusion, it was my invoice to them indeed. Anyway, the Korean company provided me some number, they claim it is a registered number and my accoutant is happy about it. So I will see what is going to happen after the tax authorities audit of my records. Hopefully that will happen long time from now.
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