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What is the tax rate for individual in Korea?

콧물좌 2015. 11. 23. 19:05


For individual, including employee and business income and things like that

The tax rate belongs to the income that you gained.


 Tax Base of Global Income

Tax Rates 

Deduction 

 less than \12,000,000 

6% 

\12,000,000 - \46,000,000 

15% 

\1,080,000 

\46,000,000 - \88,000,000 

24% 

\5,220,000 

\88,000,000 - \150,000,000 

35% 

\14,900,000 

\150,000,000 

38% 

\19,400,000 


For example, if your global income is \87,000,000, your final tax will be 

\87,000,000 * 24% - \5,220,000 = \15,660,000

Depends on your pre-paid tax, your final duty will adjusted. 


When you become Korean resident, you have to report from all over the world. You also should report foreign income in Korean Won and use the exchange rate that was in effect on the day you received.


Kakao ID: taxmate

Email: jayjang@gmail.com