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South Korea has implemented mandatory e-invoicing to improve tax compliance, reduce fraud, and streamline business transactions. The system requires businesses to issue digital invoices for all VAT-related transactions, integrating them directly with the national tax authority.
South Korea’s e-Tax Invoice system has helped businesses automate tax reporting and improve financial efficiency. Companies must generate invoices electronically and submit them in real time for validation before issuing them to customers.
Regulatory authority
The National Tax Service (NTS) oversees South Korea’s e-invoicing system.
E-invoicing requirements
All VAT-registered businesses must issue electronic invoices for taxable transactions. The system applies to both B2B and B2G transactions.
Accepted invoice formats
Invoices must be issued in XML format, following the e-Tax Invoice standard.
Transmission channels
Invoices must be submitted through the NTS e-Tax Invoice system before being sent to recipients.
Digital signatures
Digital signatures are required for invoice authentication and fraud prevention.
Archiving requirements
Invoices must be stored for at least five years under South Korean tax laws.
How B2B e-invoicing works in South Korea
Businesses generate invoices digitally, submit them through the NTS platform for validation, and then issue them to customers.
How B2G e-invoicing works in South Korea
Government suppliers must submit invoices through the NTS system to ensure compliance with procurement regulations.
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Schedule a consultation to explore the benefits of e-invoicing.
