Korean Tax Blog

November 10 Withholding Tax Deadline: What Foreign Business Owners in Korea Need to Know “I paid employees or freelancers in Korea last month. Do I have a tax deadline today?” If you operate a business in Korea and paid certain types of income in October, November 10, 2026 may be an important withholding tax deadline. Foreign business owners are generally subject to the same Korean withholding tax obligations as Korean business owners. What Is Due on November 10? For monthly

October VAT Deadline: What Foreign Business Owners in Korea Should Know “I run a business in Korea. Do I need to file VAT this October?” If you are a foreign business owner in Korea, October is an important month to check your Value Added Tax (VAT) obligations. However, not every business has the same filing requirement. Whether you need to file a VAT return or simply pay a preliminary tax notice depends on your business structure and VAT status. What Is the October VAT Deadl

Do Foreign Business Owners Need to Withhold Tax When Paying Employees or Freelancers in Korea? “I run a business in Korea and pay employees or freelancers. Do I need to deduct tax before paying them?” In many cases, yes. If you operate a business in Korea and make payments that are subject to Korean withholding tax, you may be responsible for deducting the appropriate tax from the payment and reporting it to the Korean tax authorities. Being a foreign business owner does not

Starting a Restaurant or Beauty Business in Korea Just Got Easier “Are you a foreigner planning to open a restaurant or beauty salon in Korea?” Starting a business in Korea involves several administrative procedures. However, recent changes have made business registration more convenient for certain entrepreneurs. Since August 31, 2026, Korea has introduced a one-stop application service that allows eligible business owners to apply for both business operation notification an

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

Step-by-Step Guide 1. Eligibility Employees are eligible for severance pay if they have worked continuously for at least 1 year under...

Managing payroll in Korea can be complex due to various local regulations and requirements. For foreign businesses operating in Korea,...