Accountancy in South Korea

>> Withholding Taxes in South Korea

Withholding Taxes

A person paying the following income to a domestic corporation is required to withhold corporation tax/income tax on the income at the prescribed tax rates at the time of such payment, and pay it to the government by the 10th of the following month.

Interest

Corporation Tax/ Income Tax

  • Interest prescribed by the Income Tax Law: 14%
  • Interest from a non-commercial loan: 25%

Dividends

Income Tax/ Corporation Tax: 14%


Latest version updated 1st November 2017

Country Breakdown

51.25

Million

Population

?

South Korean Won

Currency

$ 1.411

Trillion

GDP

100,210

km2