South Korea Personal Income Tax Rate

The Personal Income Tax Rate in South Korea stands at 40 percent. Personal Income Tax Rate in South Korea averaged 36.73 percent from 2004 until 2018, reaching an all time high of 40 percent in 2017 and a record low of 35 percent in 2005.

Personal Income Tax Rate in South Korea is expected to be 40.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Personal Income Tax Rate is projected to trend around 40.00 percent in 2020, according to our econometric models.

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South Korea Taxes	Last	Previous	Highest	Lowest	Unit
Corporate Tax Rate	25.00	25.00	40.00	22.00	percent	[+]
Personal Income Tax Rate	40.00	40.00	40.00	35.00	percent	[+]
Sales Tax Rate	10.00	10.00	10.00	10.00	percent	[+]
Social Security Rate	18.81	18.81	18.81	15.30	percent	[+]
Social Security Rate For Companies	10.40	10.40	10.40	8.50	percent	[+]
Social Security Rate For Employees	8.41	8.41	8.41	6.70	percent	[+]

In South Korea, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of South Korea. This page provides - South Korea Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Personal Income Tax Rate - actual data, historical chart and calendar of releases - was last updated on June of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	40.00	40.00	40.00	35.00	2004 - 2018	percent	Yearly

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Country	Last		Previous	Range
Japan	55.95	Dec/18	55.95	55.95 : 50	%
Netherlands	52.00	Dec/18	52	60 : 52	%
Germany	47.50	Dec/18	47.5	57 : 44.3	%
Australia	45.00	Dec/18	45	47 : 45	%
China	45.00	Dec/18	45	45 : 45	%
France	45.00	Dec/18	45	59.6 : 45	%
South Africa	45.00	Dec/18	45	45 : 40	%
Spain	45.00	Dec/18	45	56 : 43	%
United Kingdom	45.00	Dec/19	45	50 : 40	%
Italy	43.00	Dec/18	43	51 : 43	%
South Korea	40.00	Dec/18	40	40 : 35	%
Switzerland	40.00	Dec/18	40	40.4 : 40	%
United States	37.00	Dec/18	39.6	39.6 : 35	%
India	35.88	Dec/18	35.54	35.88 : 30	%
Argentina	35.00	Dec/18	35	35 : 35	%
Mexico	35.00	Dec/18	35	35 : 28	%
Turkey	35.00	Dec/19	35	40 : 35	%
Canada	33.00	Dec/18	33	33 : 29	%
Indonesia	30.00	Dec/18	30	35 : 30	%
Brazil	27.50	Dec/18	27.5	27.5 : 27.5	%
Singapore	22.00	Dec/18	22	22 : 20	%
Russia	13.00	Dec/19	13	13 : 13	%
Saudi Arabia	0.00	Dec/18	0	0 : 0	%