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. source: National Tax Service, South Korea

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 Personal Income Tax Rate

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


South Korea Personal Income Tax Rate
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.

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 [+]