Korea, Rep.

Paying Taxes in

Korea, Rep.

Listed below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes.

The information appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection for the project was completed in December 2010.

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Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
Corporate income tax 1 online filing 100 10% for income up to 200,000,000 and 22% after that + 10% surcharge earnings before tax 15.1
Employer paid - National pension 1 online filing 80 4.50% monthly salaries paid to employees 5.1
Employer paid - Accident compensation insurance 1 online filing 3.20% monthly salaries paid to employees 3.6
Employer paid - National health insurance 1 online filing 5.330% monthly salaries paid to employees 3
Fuel tax 1 various rates included in the price of fuel 1.2
Employer paid - Unemployment insurance 0 paid jointly 0.70% monthly salaries paid to employees 0.8
Local income tax 1 online filing 0.50% monthly salaries paid to employees 0.6
Property tax 1 0.3% (building), 0.24%~4.8% (land), 0.14% (city planning) Statutory standard price 0.2
Community facility tax 1 0.04%~0.12% Statutory standard price of building 0.1
Per capita resident tax 1 62,500 per entity + KRW 250 per ㎡ of business place per entity 0
Automobile tax 1 46,800 per truck per vehicle 0
Value added tax (VAT) 1 online filing 45 10.0% net sales not included
Stamp duty 1 various rates contract value small amount
Totals: 12 225 29.7
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