Taxes in South Korea are divided into national and local taxes. When purchasing goods and services, the tax (e.g. additional tax, acquisition tax, etc.) shall immediately be paid in full.
Other applicable taxes must be paid in accordance with the bill within the determined period.
Property taxes are imposed each year on the owners of land, buildings, houses, ships, and/or airplanes, based on the tax date of June 1. A tax notice is issued to the individual’s address or location of taxable property use by the 15th of the month in which the payment is due.
|Payment period||Amount to be Paid||Taxpayer|
|July 16-31||1/2 of house property tax, building property tax, airplane and ship property tax||Paid by the owner, based on the tax date of June 1|
|September 16–30||1/2 of house property tax, land property tax||Paid by the owner, based on the tax date of June 1|
Automobile taxes are imposed each year on the owner of the vehicle who owns the vehicle on the tax base dates of June 1 and December 1. The tax notice is issued to the address or location of use by the 15th of the month of payment.
|Quarter||Period of Taxation||Tax Base Date||Payment Period|
|First Quarter||January-June||June 1||June 16-30|
|Second Quarter||July-December||December 1||December 16-31|
Residence Tax and Local Income Tax
Residence tax and local income tax are imposed on local residents by the competent local government. Residence tax is divided into per capita tax imposed uniformly regardless of income, pro rata property tax imposed on the total area of one’s workplace, and pro rata employee tax, which is 5/1000 of one’s monthly wage. The local income tax is divided into local income tax for personal pro rata income and local income tax for corporate pro rata income, which correspond to 1/10 of the income tax and corporate tax.
How to Pay Taxes
- Residence Tax
- Per Capita: August 16-31 each year (Tax base date is July 1)
- Pro Rata Property: Report payment on July 1-31 each year
- Pro Rata Employee: Report payment of monthly taxes by the 10th of the following month
- Local Income Tax
- Corporate Income Tax: Within four months of the business year end date
- Transfer Income Tax: July 1-31 of the next year
- General Income Tax: Report payment at the same time as income tax (May 1-31 of the next year)
- Special Collection: Report payment by the 10th of the month following the collection date of the special collection tax
- Taxation Division 1, Yongsan-gu Office (☎ 02-2199-6830,6840,6850,6860)
- Taxation Division 2, Yongsan-gu Office (☎ 02-2199-6890, 6900, 6910, 6920)
Agencies that Provide Tax-related Consultation
- International Tax Division at the Ministry of Economy and Finance
- Telephone: 02-2110-2201~5
- Fax: 02-503-9229
- URL: http://www.mofe.go.kr
- NTS Seoul Regional Office
- Telephone: 02-397-2200
- Fax: 02-736-7234
- URL: http://s.nts.go.kr
- NTS Yongsan District Office
- Location: 15, Seobinggo-ro 24-gil, Yongsan-gu, Seoul (Hangangno 3-ga), 10 minute walk from (Subway Line 1) Yongsan Station toward Dongjakdaegyo Bridge
- Tel: 02-748-8200/748-8241 (English service available at the Tax Information Center)
- Fax: 02-792-2619
- URL: https://s.nts.go.kr/yos/Default.asp