The Personal Income Tax Rate in South Korea stands at 45 percent. source: National Tax Service, South Korea

Personal Income Tax Rate in South Korea averaged 37.89 percent from 2004 until 2021, reaching an all time high of 45 percent in 2021 and a record low of 35 percent in 2005. This page provides - South Korea Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Personal Income Tax Rate - values, historical data and charts - was last updated on January of 2022.

Personal Income Tax Rate in South Korea is expected to reach 40.00 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Personal Income Tax Rate is projected to trend around 40.00 percent in 2022 and 42.00 percent in 2023, according to our econometric models.

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South Korea Personal Income Tax Rate


Related Last Previous Unit Reference
Personal Income Tax Rate 45.00 42.00 percent Dec/21
Corporate Tax Rate 25.00 25.00 percent Dec/21
Sales Tax Rate 10.00 10.00 percent Dec/21
South Korea Personal Income Tax Rate
In South Korea, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of South Korea.