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Joseph SY Zoh

CPA, California, a member of AICPA  |  Jz Associates/Tax Accounting Firm Hae-An

F:+82-31-273-5078  |  Skype: joezoh  |  Email: jz@taxjz.com

Web : www.taxjz.com  |  Blogs: www.koreantaxblog.com

Korean Tax Blog

since 1981-

Final VAT Return for 2016FY

You may got this notice letter from the tax office if your address was registered correctly. 

Every company and sole proprietor(other than VAT exempted one) must file this VAT return and pay by the 25th of January without any exception and excuse.

For a company, need to file for the 4th quarter and for a sole prop. it's the 2nd half of 2016FY.

This is also a kind of final call for the sales revenue of 2016FY, so it's a bit important, if it's not that clear enough of your sales amount but you're sure there was some, I'm still asking just file it on time without exact amount of figure and you can avoid a 20% of penalty for Not-for-Filing.

You can correct it in a month after or file, and you can save 50% of those penalty as well.

Every company need to file and pay this VAT quarterly, and a sole-proprietor need to file and pay twice a year while getting a VAT bill in April and October calculated based on the July and January.

Any Questions, please feel free to send me an email to jz@taxjz.com

 

 

 

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