Ori ToolsHow to use
- Enter the amount.
- Set the tax rate: 10% for Korea, or the rate in your country.
- Press Calculate to see the net amount, VAT and total.
When to use it
- Writing invoices and quotes
- Checking the VAT on a receipt
- Setting prices that include tax
Removing VAT from a total
To find the net amount inside a price that already includes 10% VAT, divide by 1.1, not multiply by 0.9. For example, 11,000 won including VAT is 10,000 won plus 1,000 won VAT.
| Total incl. VAT | Net | VAT |
|---|---|---|
| 11,000 won | 10,000 won | 1,000 won |
| 55,000 won | 50,000 won | 5,000 won |
| 110,000 won | 100,000 won | 10,000 won |
| 1,100,000 won | 1,000,000 won | 100,000 won |
Korea uses a single standard VAT rate of 10%. Other countries use different and sometimes several rates, so change the rate as needed. Official invoices may round to the nearest won differently.
Frequently asked questions
What is the VAT rate in Korea?
The standard rate is 10%.
Why not just take 10% off the total?
VAT is 10% of the net amount, so it is 1/11 of a total that already includes it.
Can I use other rates?
Yes. Enter any rate, such as 20% for the UK.