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country-icon the Republic of Korea


Self-Billing of Invoices allowed as from 1 July 2023

As part of the tax reform proposal for 2023, taxpayers will be able to issue self-billing VAT invoices from 1 July 2023.     Self-billing of invoices will be incorporated into article 71-2 of the South Korean VAT law. The article imposes that buyers can issue invoices for goods and services if the supplier cannot issue an invoice. In this case, the buyer can deduct the input VAT. In the case of supplies of goods or services that are exempt from VAT, self-billing of invoices will not be permitted.  

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