The Corporate Tax Rate in South Korea stands at 27.50 percent. source: National Tax Service, South Korea

Corporate Tax Rate in South Korea averaged 30.16 percent from 1974 until 2022, reaching an all time high of 40 percent in 1975 and a record low of 24.20 percent in 2009. This page provides - South Korea Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Corporate Tax Rate - values, historical data and charts - was last updated on February of 2023.

Corporate Tax Rate in South Korea is expected to reach 27.50 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Corporate Tax Rate is projected to trend around 24.50 percent in 2023, according to our econometric models.

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South Korea Corporate Tax Rate

Related Last Previous Unit Reference
Personal Income Tax Rate 45.00 45.00 percent Dec 2022
Corporate Tax Rate 27.50 27.50 percent Dec 2022
Sales Tax Rate 10.00 10.00 percent Dec 2022

South Korea Corporate Tax Rate
In South Korea, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. It includes a rate of up to 25% from the central government and 2.5% for local corporate tax. The benchmark we use refers to the top marginal corporate income tax rate for corporations with more than KRW 200 billion of taxable income a year. Revenues from the Corporate Tax Rate are an important source of income for the government of South Korea.
Actual Previous Highest Lowest Dates Unit Frequency
27.50 27.50 40.00 24.20 1974 - 2022 percent Yearly