What's New
  • Increase of individual income tax rate from 2018
  • CKC
    Views: 161, 2018.05.14 17:21:39
  • Increase of individual income tax rate

     

    (Current)

    Assessable income less than KRW 12,000,000                       6%

    More than KRW 12,000,000 up to KRW 46,000,000               15%

    More than KRW 46,000,000 up to KRW 88,000,000               24%

    More than KRW 88,000,000 up to KRW 150,000,000             35%

    More than KRW 150,000,000 up to KRW 500,000,000          38%

    More than KRW 500,000,000                              40%

    The following surtax is also applied:

    Local government income tax: 10% on income tax

     

     

    (New)

    Assessable income less than KRW 12,000,000                       6%

    More than KRW 12,000,000 up to KRW 46,000,000               15%

    More than KRW 46,000,000 up to KRW 88,000,000               24%

    More than KRW 88,000,000 up to KRW 150,000,000             35%

    More than KRW 150,000,000 up to KRW 300,000,000          38%

    More than KRW 300,000,000 up to KRW 500,000,000          40%

    More than KRW 500,000,000                              42%

    The following surtax is also applied:

    Local government income tax: 10% on income tax

     

    (Effective date)

    This change is effective from January 1, 2018

Comment 0 ...

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102 148 2018.05.16
161 2018.05.14
100 8230 2017.08.18
99 7280 2017.08.03
98 8405 2017.08.02
97 9902 2017.07.05
96 10096 2017.07.04
95 9324 2017.06.21
94 9769 2017.06.19
93 10082 2017.06.16
Tag
  • INAA GROUP
  • Compandben SA
  • High Street Partners
  • Invest Korea
  • Seoul Global Center
  • Knowing about Korea
  • National Tax Service
  • Minstry of Labor
  • National health Insurance
  • National Pension Service
  • Compensation & Welfare Service