Doing Business
in Korea

Taxes in Korea are divided into national taxes imposed and collected by the central government and local taxes imposed and collected by...

Taxpayer and Taxable Income The worker who is paid for providing work or service is a taxpayer and the relevant tax (payment, bonus) is...

What is Year-end tax settlement? Year-end tax settlement is a process of finalizing the total amount of income tax to be earned by an...

Corporate tax is an income tax imposed on corporations. Taxpayer and Taxable Income Domestic corporations and foreign corporations who...

Value Added Tax (VAT) is a tax that is reported and paid for added value acquired in the process of providing goods and services* and...

All corporations must issue a tax invoice when supplying goods or services, which can be issued through Hometax; a website of the NTS.