Remove VAT from a total or add VAT to a net price. Numbers come out exactly as they go on a tax invoice.
| Memo (optional) | Net (supply price) | VAT | Total |
|---|---|---|---|
| Sum | 0 | 0 | 0 |
Net = total ÷ 1.1, VAT = total − net. 110,000 → 100,000 + 10,000.
VAT = net × 10%, total = net × 1.1.
Tax invoices use whole won: floor the net and set VAT = total − net (same as Hometax).
Set the rate to 0 for exempt goods or exports.
Total ÷ 11. 110,000 ÷ 11 = 10,000.
Jan 25 and Jul 25 (final); corporations also Apr 25 and Oct 25 (preliminary). See the tax calendar.