📊Korean Income Tax Calculator
Estimate Korean comprehensive income tax from gross income, expenses, and deductions. For May tax-filing season self-checks, freelance/rental income estimates.
How to use
- 1Enter your gross annual income.
- 2Enter necessary expenses (business/rental) and deductions.
- 3See computed tax and total payable including local income tax.
FAQ
How do progressive rates work?+
Rates range from 6% (up to 14M won) to 45% (over 1B won) across tax brackets. The tool subtracts the cumulative deduction automatically.
Do salaried workers file too?+
If you only have salary income and your employer handled withholding and year-end settlement, no separate filing is needed. You'll file if you have additional business, rental, or investment income.
How accurate is this?+
Simplified — complex items like wage deductions or tax credits (child, donation, education) aren't fully applied. Use Hometax or a tax advisor for actual filing.
Marginal vs effective rate?+
Marginal rate is the rate in the highest bracket you hit; effective rate is (total tax ÷ total income). For example, 50M won income with a 15% marginal rate often has an ~9% effective rate.
What if I miss the May filing?+
Failing to file when required triggers late penalties (20%+ non-filing penalty) plus interest. When in doubt, contact a tax office or Hometax.
Is local income tax separate?+
An additional 10% of the calculated tax is added as local income tax. This tool includes it in the final amount.