Korean Tax Blog

19% Flat Tax or Progressive Tax: Which Is Better for Foreign Employees in Korea? “I work in Korea as a foreign employee. Should I choose the 19% flat tax rate or Korea’s progressive tax rates?” For eligible foreign employees in Korea, choosing the right tax method can make a significant difference at year-end settlement. Under the current rules, qualifying foreign employees may choose between the 19% flat income tax rate and Korea’s regular progressive income tax system. But

Do Foreign Business Owners Have to Pay Income Tax in Advance in November? “I run a business in Korea. Why am I being asked to pay income tax in November?” If you are a foreign individual business owner in Korea, you may need to check whether Korean Income Tax Interim Prepayment applies to you. This is separate from the regular Comprehensive Income Tax filing that generally takes place in May. What Is Income Tax Interim Prepayment? Korea operates an interim prepayment system f

What Is Personal Interim Tax? Personal interim tax in Korea, often referred to as "prepayment of income tax" (중간예납 세금), is a tax system...