Can I just file the platform settlement amount as my revenue?
The settlement amount deposited from Coupang, Smart Store, and similar platforms already has fees and shipping costs deducted, so it differs from your actual revenue — filing it as-is easily leads to VAT and income tax filing errors. The surest way to avoid missed revenue is to understand each platform's settlement structure precisely, separate total revenue from necessary expenses, and — if you run multiple channels — consolidate the data from each into one place before filing.
Select the platform you operate on
Every channel has a different settlement structure and revenue-recognition timing — check the tax guide for your platform
Naver Smart Store
Settlement cycle, ad spend, and Naver Pay point expense treatment
Store follows can keep growing, but settlement amount and revenue are not the same thing
Coupang (Rocket Growth)
Marketplace vs. Rocket Growth logistics-fee differences
Coupang handles rocket delivery, but the VAT filing is on you
Your Own Online Store
PG payment-gateway settlement, direct tax-invoice management
Standing alone without a platform means standing with us on tax invoices
Overseas Sourcing & Purchase Agency
Revenue-recognition differences between reselling and purchase agency, customs-fee treatment
You can cross borders, but don't cross the line on revenue recognition
Crowdfunding
Wadiz/Tumblbug revenue-recognition timing, reward production-cost treatment
A funding round ends when the goal is met, but revenue filing ends only after shipping
Settlement Amount and Actual Revenue Are Not the Same
The settlement amount already has platform fees and shipping costs deducted, but VAT must be filed based on the actual sale price (the supply value). Recording revenue from the settlement data alone easily leads to under-reporting.
Where to Find Revenue Data by Channel
Naver Smart Store provides dedicated filing data under [Settlement Management > VAT Filing Details], and Coupang Wing under [Settlement > VAT Filing Details]. Filing based on this data — not the settlement amount — is what keeps things accurate.
These Situations Commonly Tangle Up a Filing
Compare Each Channel's Different Settlement Structure at a Glance
Even for the same revenue, fees, settlement cycles, and tax-invoice handling differ by channel
| Category | Naver Smart Store | Coupang (Marketplace/Rocket Growth) | Your Own Online Store |
|---|---|---|---|
| Settlement cycle | Regular settlement on business days | Varies by operating method (Rocket Growth has a separate fee structure) | Follows the PG/payment-gateway provider's settlement policy |
| Revenue data | Check under [Settlement Management > VAT Filing Details] | Check under Coupang Wing [Settlement > VAT Filing Details] | Compile directly from your own order/payment system data |
| Fee treatment | Sales commission as expense | Sales commission and logistics fee (if using Rocket Growth) as expense | PG fee and shipping cost as expense |
| Tax invoice | Platform issues purchase-related tax invoices | Platform issues purchase-related tax invoices | Business owner issues and manages directly |
If you run several channels together, you must check and consolidate each channel's data separately — there's no way around it.
Overseas Reselling vs. Purchase Agency — Revenue Recognition Differs
Both deal in overseas goods, but the tax treatment is entirely different
Reselling After Sourcing Overseas
Buying goods directly overseas, holding them as inventory, and then selling — the full sale price is revenue. Managing inventory assets and customs costs carefully is essential.
Purchase Agency
Buying goods overseas on the customer's behalf — usually only the commission is recognized as revenue. The correct treatment depends on your contract and settlement structure, so you need to understand your business form precisely before deciding how to file.
Essential Registration Checklist for Online Sellers
Business registration alone isn't enough — don't forget mail-order sales registration too
Photography, Design, and Outsourcing Fees Are Deductible Expenses Too
Even a single product page involves several different expenses — check what qualifies and what documentation you need
| Item | Deductible? | Key Point |
|---|---|---|
| Product photography (studio rental, photographer) | Yes | Fully deductible with a proper tax invoice or cash-receipt |
| Product-page design fee | Yes | If outsourced to a freelance designer, withhold 3.3% before paying |
| Model/reviewer fee | Yes | 3.3% withholding for individual freelancers; obtain a tax invoice if paid to a registered business |
| Outsourced design/development (logo, banner, product page) | Yes | For personal-service providers, withhold 3.3% and be sure to file the accompanying payment statement |
| Online ad spend (Naver shopping search ads, SNS ads) | Yes | Fully deductible as advertising expense with no cap |
| Packaging materials (boxes, cushioning, stickers) | Yes | If treated as inventory, only the actually-sold portion counts as cost of goods sold |
| Shipping and logistics fees | Yes | Fully deductible as expense |
| Translation fees (for reverse direct purchases/purchase agency) | Yes | Often subject to 3.3% withholding if outsourced |
What's Easy to Miss When Paying Outside Vendors
When photography, design, or translation is handled by an individual freelancer, it's usually classified as a personal service and requires 3.3% withholding before payment. Paying the full amount without withholding can make it harder to claim the expense later — it's safest to confirm whether the other party is a registered business or a freelancer before you pay.
For other expenses you're unsure about, search "Is This a Deductible Expense?" for an instant answer.
Peace-of-Mind Support for Online Sellers
We Consolidate Your Channel Settlement Data Ourselves
Leave the hassle of cross-checking data from multiple platforms to us
One Filing, No Matter How Many Channels
If you run Smart Store, Coupang, and your own online store together, we collect and consolidate the settlement data from each channel every month, organize it into a single ledger, and file it. You focus on sales and product management.
Confused by a Settlement Detail? Just Ask, Any Time
"Why is this settlement amount so low?" "How do I handle a return?" — send a screenshot over KakaoTalk and we'll check it right away.
Related Reading
Overseas Purchase Agency vs. No-Inventory Dropshipping — How to File VAT
The differences in revenue recognition and VAT filing between purchase agency and dropshipping.
The First Step to Starting an Online Store — How to Get Your Mail-Order Sales Registration
A guide to the mail-order sales registration process, required separately from business registration.
How to Handle Delivery-App Fee VAT — A Complete Guide to Revenue/Purchase Filing
Why the settlement amount differs from actual revenue, and how to claim input tax credits.
How to File Taxes on Wadiz/Tumblbug Crowdfunding Revenue
Check when funding contributions are recognized as revenue and how to file them.
Zero-Rating and Early VAT Refunds for Exporting Businesses
If your share of overseas sales is growing, check whether you qualify for zero-rating and early refunds.
General vs. Simplified Taxpayer — Which Is Better for You?
The criteria for choosing your taxpayer type when you register a business.