Korean Tax Blog

Do Foreigners Have to Pay Gift Tax in Korea? “My parents want to send me money from overseas. Do I have to pay tax in Korea?” This is an important question for foreigners living in Korea, especially when receiving money or property from family members. The answer depends largely on your Korean tax residency status and where the gifted property is located. 1. Does Korea Have a Gift Tax? Yes. Korea imposes gift tax (증여세) when property or economic value is transferred to another

Starting from 2022, significant changes have been introduced to the valuation method for cryptocurrencies when they are inherited or...

Introduction Wealth transfer tax in Korea, which includes inheritance and gift taxes, plays a significant role in estate planning and...