Through the deferred payment scheme, small or medium business owner or middle-standing business owner may apply the deferred payment of value-added tax on the importation until the report of the settlement of VAT to the tax office. (Article 50-2 of the Value-added Tax Act)
The following are the subjects of deferral of payment of VAT (Article 91-2 of the Enforcement Decree of the Value-added Tax Act):
The application procedure of Deferred Payment of Import VAT
Korea Customs Service, Audit Policy Division, 042-481-7754