Category Archives: Accounting

Full-Service Outsourcing of Korean VAT Invoices, Payment, etc.

Outsource to an Accounting Firm Instead of Hiring a Bookkeeper In-house bookkeeping is great for large companies. They need expert staff on full time constantly handling payment requests, payment processing, tax filings, payroll calculation, etc. There are a million things for them to do.    However, if you’re a smaller operation monthly sales of between […]

Basic Reporting Requirements in Korea

Under the Korean Commercial Law and related tax laws, a company is required to keep its accounting records using “double-entry” bookkeeping system, and prepare financial statements and maintain them for at least five (5) years. Also, once you start a business in Korea, you would be required for following reporting requirements : Value Added Tax […]