To reduce taxpayers’ compliance cost and to enhance transparency of business transaction between businessmen, the e-Tax Invoice is to be commenced from January 1st, 2010.
The e-Tax Invoice is an online tax invoice system which enables online issuance and distribution of a tax invoice, and transmission to the NTS.
The esero (www.esero.go.kr) will serve as a platform for users to issue and distribute online tax invoices.
While small scale business can choose either hand written tax invoices or e-Tax Invoices, all corporate taxpayers are obliged to use e-Tax Invoices starting from 2011.
Refer to the attachment for details.
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