VAT Calculator

What's the difference between the supply price and the total amount?

The supply price is the sale amount before VAT. The total amount adds 10% VAT to the supply price and is the amount that actually changes hands. On a receipt or tax invoice, this is usually what's shown as the grand total.

Is VAT always 10%?

Yes. Article 30 of Korea's Value-Added Tax Act sets the VAT rate at 10%. A flat 10% applies to ordinary transactions of goods and services, aside from certain zero-rated transactions such as exports.

Can simplified taxpayers use this calculator too?

This calculator uses the standard 10% rate that applies to general taxpayers. Simplified taxpayers follow a different formula based on an industry-specific value-added rate (total amount × industry rate × 10%), so the actual tax owed may differ from this result.

Does this account for input tax credits?

No. This calculator only works out the supply price and VAT for a single transaction. To find the VAT actually payable (output tax minus input tax), you'll need to subtract input tax credits confirmed via tax invoices separately.

Could the result differ slightly from an actual tax invoice due to rounding?

Yes. Working backward to the supply price from a total amount can involve rounding to the nearest won, so the result may differ by a won or two from what appears on an actual tax invoice.