2026-09-18 · YN 상세페이지

Complete Guide to Value Added Tax Filing Procedures

Value added tax filing is an essential process for business owners. In this article, we will break down the filing procedures step by step to help you understand.

Value added tax is the core of a business owner's tax management.

What is Value Added Tax?

Value added tax is a tax imposed when consumers purchase goods or services, which business owners pay by deducting the input tax from the sales tax. It is a type of consumption tax, ultimately borne by the final consumer. The name comes from the fact that the tax is levied on the value added at each stage. Business owners must regularly file and pay this tax, which supports the government's national finances.

Value Added Tax Filing Frequency

Value added tax filing occurs twice a year, and the filing frequency differs between regular taxpayers and simplified taxpayers. Regular taxpayers must file in January and July, while simplified taxpayers file once a year within three months after the end of the business year. It is important to adhere to the filing frequency, as missing the deadline may result in penalties.

Required Documents and Materials for Filing

To file value added tax, several documents must be prepared. Most fundamentally, a tax invoice that proves sales tax and input tax is necessary. Additionally, you need to prepare records of expenses, transaction statements, bank statements, and more. These documents must be submitted to the tax office, so they should be well organized, even when using electronic filing.

How to File Value Added Tax

Value added tax filing can be done through electronic filing or paper filing. Electronic filing can be easily accomplished through the home tax system, where you can scan and attach the required documents. In contrast, paper filing requires you to visit the tax office in person to submit the necessary documents. For electronic filing, it's advisable to prepare in advance before the filing deadline to allow for some time flexibility.

Post-Filing Precautions

After completing your filing, it is crucial to verify that the information is accurate. If any errors are found, you can correct them through a revised filing. Additionally, based on the filed information, the tax office may conduct a tax audit, so it is recommended to keep relevant documents for at least five years. You must pay the tax within one month after filing, so be careful not to miss the deadline.

Points to Note When Filing Value Added Tax

When filing value added tax, it is important to understand the regulations related to tax deductions. You should accurately understand when you can claim input tax deductions and file based on that. Additionally, you must be well-versed in tax laws related to expense processing, and consulting a tax professional if necessary is a good approach. Tax filing carries legal responsibilities, so it should be done accurately and transparently.

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