Do I need to report overseas sales income from Shutterstock or Adobe Stock domestically?
Yes, income earned by a domestic resident is subject to comprehensive income tax filing as business income even if it was earned overseas, and since most of it arrives with no withholding, you need to aggregate the settlement details yourself and file in May to avoid omissions. A structure in which you supply usage rights to your work to an overseas business may qualify for a review of zero-rated VAT, so we recommend confirming the contract structure before registering as a business.
The most confusing part — overseas settlements and zero-rated VAT
There is no withholding, and many aspects need to be reported differently from domestic transactions
Payments arrive from overseas with no withholding
Shutterstock, Adobe Stock, Getty Images, and similar platforms mostly pay out settlements via overseas remittance or PayPal with no domestic withholding. Since the NTS will not confirm this for you, you need to aggregate your own revenue and reflect it in your comprehensive income tax filing.
Services supplied outside Korea may qualify for zero-rated VAT
A structure where you supply usage rights to your work to an overseas business (a stock agency) may qualify as an overseas supply of services eligible for zero-rated VAT. Since this depends on the contract structure and settlement method, it is best to confirm before registering as a business.
Income structure of a stock photo & video contributor
Key expense categories
Must-read for stock photo & video contributors
Sort filming equipment and subscriptions by category to save on taxes
From equipment covering diverse genres to content management tools, sorting each item correctly reduces unnecessary tax
Long-term fixed assets — depreciable equipment
Camera body: full-frame camera for diverse genres (portrait, landscape, product)
Lenses: standard/telephoto/macro lens set
Lighting: strobes/softboxes for studio shots
Workstation: high-spec PC for retouching/video editing
Anything over 1,000,000 KRW per unit is classified as a depreciable asset and must be expensed gradually over its useful life.
Consumables/rentals — expensed immediately
Consumables: batteries, memory cards, props/costumes for concept shoots
Rentals: location rental by concept, specialty set rentals
Consumable spending and usage fees that are not assets are expensed in full at the time of purchase or payment.
Personal service costs — model/staff withholding
Amounts paid per contract to models booked for stock content, stylists, and assistant shoot staff are business income subject to 3.3% withholding, filed and paid by the 10th of the following month.
Post-production/platform management subscriptions
Retouching software like Lightroom/Photoshop, keyword tagging/multi-platform submission management tools, and cloud backup storage subscriptions are recurring monthly expenses and are expensed in full at the time of payment.
| Category | Examples | Tax treatment |
|---|---|---|
| Long-term fixed assets | Camera, lenses, lighting, workstation | Depreciated if over 1,000,000 KRW |
| Consumables/rentals | Batteries/memory cards, location/set rental | Expensed in full immediately |
| Personal services | Models, stylists, assistant staff | 3.3% withholding, filed by the 10th of the following month |
| Post-production/platform management | Retouching software, tagging/submission tools, cloud | Expensed immediately |