| Tax Base (in KRW) | Tax Rate for 2017 and before | Tax Rate for 2018 and after |
| Under 12,000,000 | 6% | 6% |
| 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% |
| Over 500,000,000 | 40% | 42% |
Corporate Income Tax Rate
| Tax Base (in KRW) | Tax Rate for 2018 and after |
| Under 200,000,000 | 10% |
| 200,000,000 ~ 20,000,000,000 | 20% |
| 20,000,000,000 ~ 300,000,000,000 | 22% |
| Over 300,000,000,000 | 25% |
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.
Kind regards,
Zsuzsanna MÉSZÁROS
managing director
Mészáros Zsuzsanna,
We cannot answer this in a comment, please email us: siyoon@theclacc.com