Sales Tax Rate in South Korea remained unchanged at 10 percent in 2021 from 10 percent in 2020. source: National Tax Service, South Korea

Sales Tax Rate in South Korea is expected to reach 10.00 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Sales Tax Rate - VAT is projected to trend around 10.00 percent in 2022, according to our econometric models.

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South Korea Sales Tax Rate  - VAT

Actual Previous Highest Lowest Dates Unit Frequency
10.00 10.00 10.00 10.00 2006 - 2021 percent Yearly

South Korea Taxes Last Previous Highest Lowest Unit
Corporate Tax Rate 25.00 25.00 40.00 22.00 percent [+]
Personal Income Tax Rate 45.00 42.00 45.00 35.00 percent [+]
Sales Tax Rate 10.00 10.00 10.00 10.00 percent [+]
Social Security Rate 19.24 18.94 19.24 15.30 percent [+]
Social Security Rate For Companies 10.11 9.96 10.40 8.50 percent [+]
Social Security Rate For Employees 9.13 8.98 9.13 6.70 percent [+]

South Korea Sales Tax Rate - VAT
In South Korea, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate. Revenues from the Sales Tax Rate are an important source of income for the government of South Korea.