Korean Tax Blog

Do Foreigners Have to Pay Gift Tax in Korea? “My family sent me money from overseas. Do I have to pay gift tax in Korea?” If you are a foreigner living in Korea, money or property received from family members may, in some cases, be subject to Korean gift tax. Being a foreigner does not automatically exempt you from gift tax. Whether tax applies can depend on factors such as your residency status, the type of property received, and your relationship with the person giving the

What Will Change Under the 2026 Tax Laws? Key Points of the 2026 Tax Reform Proposal for Business Owners and Real Estate Owners Hello, We are Jz Associates, helping business owners and company representatives navigate their tax-related concerns. Tax laws change every year, but this year there are several noteworthy proposed changes, particularly regarding real estate, business succession, and corporate taxation. On August 3, 2026, the Korean government announced the 2026 Tax

As an expat living in Korea, understanding the local tax regulations can be a bit daunting, especially when it comes to receiving gifts...