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About South Korea
South Korea is Asia’s fourth-largest economy and a global technology leader in semiconductors, electronics, and automotive, offering world-class infrastructure, R&D incentives, and free economic zones.
View Complete InformationSouth Korea Tax Brief
- General CIT Rate
- Progressive: 10% (up to 200M KRW), 20% (200M-20B KRW), 22% (20B-300B KRW), 25% (over 300B KRW)
- CIT Return Due Date
- Mid-term tax returns: within two months from the end of the six-month period; annual tax returns: within three months from the end of the fiscal year.
- CIT Payment Due Date
- The submission of the declaration form (instalment payments are allowed in the case of elections).
- CIT Estimated Payment Due Date
- N/A
- General VAT Rate
- 10
- General Capital Gain Tax Rate
- Taxed as ordinary income at the normal CIT rates; gains on certain housing and non-business land also bear an additional 10-40% tax (Corporate Tax Act Art. 55-2)

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