Compute Korean income tax and local tax from a taxable base using progressive rates.
Korea's comprehensive income tax applies a progressive 6%–45% rate to a taxable base combining interest, dividend, business, wage, pension, and other income. Tax = base × rate − progressive deduction, plus a separate 10% local income tax.
Example: a 30M KRW base falls in the ≤50M bracket (15%): 30M × 15% − 1.26M = 3.24M, plus 0.324M local tax ≈ 3.56M.
Formula
tax = base × rate − progressive deduction (+ 10% local tax)
| Taxable base | Rate | Deduction |
|---|---|---|
| ≤ 14,000,000 | 6% | 0 |
| ≤ 50,000,000 | 15% | 1,260,000 |
| ≤ 88,000,000 | 24% | 5,760,000 |
| ≤ 150,000,000 | 35% | 15,440,000 |
| ≤ 300,000,000 | 38% | 19,940,000 |
| ≤ 500,000,000 | 40% | 25,940,000 |
| ≤ 1,000,000,000 | 42% | 35,940,000 |
| > 1,000,000,000 | 45% | 65,940,000 |
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