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  • Writer's pictureJ&J Korea

Basic Guide to Corporate Income Tax in South Korea

Updated: Sep 5, 2023

Corporate Income Tax

Corporate tax is an income tax imposed on corporations.

Taxpayer and Taxable Income

Domestic corporations and foreign corporations who have domestic source income, income from liquidation, and capital gains such as gains from the transfer of land, etc. Income for each business year is calculated by adding and subtracting profits and losses under the Corporate Tax Act from the net income of a corporation.

Filing/Payment Deadline

No later than 3 months from the last day of the month in which the business year ends. The business year is one accounting period determined by articles of incorporation, which shall not exceed one year. Generally, the business year of Korea company is from January 1st to December 31st, and so the filing and payment deadline for corporate income tax is March 31st.

Tax Rate

Corporate Tax Rate

PLUS: Video for EASY Guide!



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