We are a UK company looking for Korea VAT registration in our international trade business from Korea to Japan without forming a local company in Korea.
We are trading raw materials for furniture mostly, used to through a Korean trader before, but now direct.
We learned that our VAT could be handled without setting up another new company in Korea
A non-resident company (not an individual) can claim VAT refund with the following documents.
1. Certificate of company registration (from home country)
2. Pieces of evidence that Korean VAT is paid (credit/debit card receipts, Korean tax invoices, Korean cash receipts etc.) : Original documents need to be attached to the application form.
3. VAT refund application form
4. VAT refund claim bank account details.
5. Power of Attorney (if agent is handling this)
6. Other documents can be requested from National Tax Service for review.
The VAT refund claim is due by June 30 of the following year (i.e 2019’s VAT refund can be claimed June 2020).
Usually, the refund takes 30~45 days.