OM/AR/SLA: Separate Revenue Timing (Shipment) from Tax Point (Invoice) for Korea VAT Compliance

Summary:

We are implementing Oracle Fusion ERP for our South Korea entity. According to IFRS and our internal management requirements, we need to recognize Revenue and COGS in real-time upon Shipment (FOB Shipping Point). However, per South Korean VAT Law (Article 34), the VAT Liability should only be recognized when the Tax Invoice is issued, which in our case is a Monthly Summary Invoice generated at the end of each month.
Our Challenge:
In the standard Order-to-Cash flow (OM to AR), Revenue and VAT are usually recognized simultaneously when the AR Invoice is created.

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