Tax Law in South Korea

Tue, 07 Jul 2026 00:00:00 +0000

Introduction

South Korean tax law is governed by the Framework Act on National Taxes (국세기본법, 1974) , the Corporate Tax Act (법인세법) , the Income Tax Act (소득세법) , the Value-Added Tax Act (부가가치세법) , and the Inheritance and Gift Tax Act (상속세 및 증여세법) . The National Tax Service (NTS) (국세청) administers tax collection. South Korea has a progressive tax system with relatively high top marginal rates and distinctive features in inheritance taxation.

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Tax Law in South Korea

Introduction