Foreigners' tax
https://www.investkorea.org/ik-en/cntnts/i-369/web.do
Foreigners' tax obligations in Korea vary depending on their residency status and the source of their income. A resident refers to an individual who has a registered address or has resided in Korea for more than one year, while non-residents are classified as individuals who are not residents. Residents are subject to Korean taxation on all worldwide income, whereas non-residents are only taxed on Korean-source income.
Foreigners' tax liabilities can be categorized into national taxes and local taxes. National taxes include income tax, inheritance and gift tax, value-added tax (VAT), individual consumption tax, customs duties, and more. Local taxes include automobile tax, property tax, acquisition tax, driver's license registration fee, among others. Foreign workers generally pay the same taxes as Korean citizens unless they fall under certain special circumstances.
There are also special taxation provisions for foreign workers. For instance, a flat rate of 19% may apply to their employment income for the first five years from the starting date of employment in Korea or certain deductions may be granted for specific industries or job positions.
Financial income received from overseas is generally required to be reported and paid together with domestic income if the recipient is considered a resident in Korea. In such cases, foreign taxes paid can be deducted through foreign tax credit to prevent double taxation. However, refunds for foreign taxes paid are not provided.
Foreign Investment Zone https://www.investkorea.org/ik-en/cntnts/i-2560/web.do
Free Economic Zones https://www.investkorea.org/ik-en/cntnts/i-373/web.do
Free Trade Zones https://www.investkorea.org/ik-en/cntnts/i-374/web.do
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