We evaluate the entitlement of recovery of your business-related VAT expenses in Korea and subsequently arrange the refund procedure with the Korean tax authorities.
As listed by the Korean Restriction of Special Taxation Act, VAT refund may be applied for the following cases:
- Expenses for office equipment and supplies
- Telecommunication cost
- Advertisement expenditures
- Lodging, restaurant and hotel expenses
- Maintenance and rent spending for local representative offices
- Cost of renting real estate
The refund of accrued VAT can be applied for until the 30th of June for the preceding year, while to minimum eligible amount is KRW 300,000.
We support your company in reducing expenses, for example, accruing for business trips, congresses or trade fair appearances in Korea, and guarantee the payment of the recovered amount to your domestic company account after successful claim through ABK.
Contact us to get detailed information about our services or to get an individual offer for your company.