May 23, 2025
If you're at the helm of a corporate business in South Korea, understanding the intricacies of corporate tax is not just a requirement – it'
South Korea’s corporate tax system uses a progressive rate structure ranging from 9% to 24%, based on annual taxable income. Tax liability is calculated by subtracting deductions, carried-forward losses, and non-taxable income from total earnings. Filing must be completed within three months after the fiscal year-end. Required documents include financial statements, tax adjustment records, and retained earnings reports. Failure to submit all necessary documents can result in penalties. Companies can also file electronically through the Hometax platform provided by the National Tax Service.
