|Tax Base (in KRW)||Tax Rate for 2017 and before||Tax Rate for 2018 and after|
|12,000,000 ~ 46,000,000||15%||15%|
|46,000,000 ~ 88,000,000||24%||24%|
|88,000,000 ~ 150,000,000||35%||35%|
|150,000,000 ~ 300,000,000||38%||38%|
|300,000,000 ~ 500,000,000||38%||40%|
Corporate Income Tax Rate
|Tax Base (in KRW)||Tax Rate for 2018 and after|
|200,000,000 ~ 20,000,000,000||20%|
|20,000,000,000 ~ 300,000,000,000||22%|
2 thoughts on “Tax Rates for Individuals vs Corporations in Korea”
Dear Sir and Madam,
I am writing you on behalf of a Hungarian ltd company, HUNKOR WORK Kft.
We have contaracted with a Korean individual taxpayer. His business name is different than his private name but he would like us to transfer the contracted amount to his private account.
I wonder if it is legal in Korea not to have separate bank account for the business?
The title his business certificate is the following:
사 업 자 등 록 증 명
Certificate of Business Registration
( 일반과세자 )
( Individual VAT Taxpayer )
Thank you for your assistant in adavnce.
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