Injoys Life

This content applies specifically to South Korea. If you have a VAT interim payment notice for the second taxable period of 2026, the standard payment deadline is November 2, 2026. Corporations required to file an interim return must file and pay by October 26, 2026, unless a payment extension applies. Separate the payment from the return Individual general VAT taxpayers and small corporations generally pay the notice amount without filing a separate interim return. The notice bills 50% of the tax paid for the preceding taxable period, here the first half of 2026. You can check the amount through Hometax, the National Tax Service's online tax portal, to plan for the payment. A woman checks a phone at a bicycle repair shop with a waterline on the wall. VAT interim notice checks in one place The original article on OnBinder helps you distinguish payment obligations from filing obligations, with business categories and deadlines shown together. Its Hometax steps explain where t...

This content applies specifically to South Korea. If you regularly earn money from videos in Korea, business registration is required, and VAT exemption still leaves an income tax filing obligation. Recurring advertising, sponsorship and viewer support income counts as business income.   What determines VAT status Check employees and business facilities before assuming a solo channel is exempt. Having staff or physical facilities for business use puts the activity in the taxable media content creation category. Having neither places it in the VAT-exempt solo media content creator category. Professional filming equipment and a separate studio are examples of facilities. It helps to distinguish exemption from simplified taxation. Simplified taxation changes how value-added tax, or VAT, is calculated. Its general threshold, expanded in July 2024, is previous-year total sales below 104 million won, but business-type and other exclusions can still apply. Woman video creator seate...