KOREA-NTS-EINVOICE-DETAIL

Korea NTS e-Sero Bill e-Invoice 2010+ phased.

Definition

Korea NTS e-Invoice ecosystem: (1) Format: Korean-specific XML format (~40 mandatory fields including supplier/customer business numbers + transaction details + VAT amounts), signed e-Tax Certificate (Korean PKI X509 certificate). (2) Submission modalities: (a) Direct NTS Hometax portal upload (small businesses, free), (b) ASP (Application Service Provider) ~80 certified vendors (Douzone, Hancom, etc., provide ERP integration), (c) ERP direct integration via NTS Web Service API (SAP + Oracle + Microsoft Dynamics). (3) Mandate phased: Phase 1 (2010) corporations + sole proprietors revenue >KRW 1B annually, Phase 2 (2011) >KRW 300M, Phase 3 (2014) >KRW 200M, Phase 4 (2019) >KRW 100M, Phase 5 (2022) >KRW 80M. ~85% enterprises 2024 e-Invoice. (4) Korean VAT: 10% standard rate (unique rate). (5) Companion: Korean Cash Receipt System (separate, B2C consumer receipts, alongside e-Invoice B2B). E-Invoice non-issuance penalties: 2% transaction amount + administrative fines.

Origin

Korea Cabinet Decision 22-2010 introduced e-Invoice obligation Phase 1 ; phased rollout 2010-2022 ; ~85% Korean enterprises 2024.

Example in context

Samsung Electronics Korea issues ~2M e-Invoices/day B2B vendors + customers: XML Korean signed e-Tax Certificate, ASP Douzone integration SAP ERP, NTS Hometax real-time submission, VAT 10% calculated automatic, accounting integration Korean GAAP + IFRS reporting.

Related terms

• Korea NTS Cash Receipt — B2C companion.