2026 VAT Preliminary Notice Below KRW 500,000: Exemption from Collection and Differences from the Final VAT Return
If the VAT amount stated in a preliminary tax notice for October 2026 is below KRW 500,000, that amount will not be collected. However, this does not mean the tax itself is exempt. Individual general VAT taxpayers and small corporations meeting certain requirements must distinguish between exemption from preliminary collection and their obligation to file a subsequent final VAT return. In particular, KRW 490,000 and KRW 500,000 lead to different outcomes. Preliminary tax notice