South Korea introduced tax electronic invoicing ('e-Tax') in 2011, and it was mandated for most tax payers in 2014.
VAT registered businesses are required to submit their invoices to the tax authorities through the National Tax Service (NTS) in one of the following ways:
Businesses wishing to issue tax invoices must first obtain a digital certificate. To issue the e-Tax invoice, they will need their customers' tax registration certificate for matching the invoice to a customer. The tax invoice is sent to the customer by email.
At the same time, the e-Tax invoice should be sent to the NTS. However, an alternative of monthly batch invoice submissions is permitted by the 10th of the following month.
Failure to transmit an e-Tax invoice to NTS may result in a fine of 1% of the taxable amount.