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Could you explain the income tax rates in Korea? (in the case of business income earner)

  • Poster 운영자
  • Date2020.11.11.
  • Read557

The amount of income tax on global income is calculated by applying increasing marginal tax rates to respective tax base, and may be determined by using the following table.

The taxable income is the total amount of wage and salary income remaining after the deduction of the following amount (₩80,000 per day for a daily worker)

Tax Base of Global Income

Tax Rates

Less than ₩10,000,000



8% of tax rate



₩10,000,000 ~ ₩40,000,000



₩800,000 + 17% of the amount over ₩10,000,000



₩40,000,000 ~ ₩80,000,000



₩5,900,000 + 26% of the amount over ₩40,000,000



Over ₩80,000,000



₩16,300,000 + 35% of the amount over ₩80,000,000






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