#Income Tax
Related posts · 8 posts
Korean Interim Income Tax Calculator - Not Half of Last May
The statute adds last November's interim payment too, then halves the sum. Under 500,000 won nothing is collected.
Korea's Tax Calendar — What's Due in Every Month
Comprehensive real estate tax runs 1-15 December; property tax takes land in September, buildings in July, and splits only housing. Under ₩200,000 it is settled in July alone — and the car tax prepayment ceiling is 10%, not 5%.
Rent Turns on 1.2 Billion, Jeonse on 300 Million — Two Different Provisions
For a two-home owner the jeonse threshold is ₩1.2 billion, not ₩300 million. The Act sets only a floor and delegates the figure; the Decree puts it at ₩1.2 billion — a provision inserted only last year.
Korea VAT Explained 2026 — General vs Simplified, Filing & Refunds
The 104 million won line is not in the Act — VAT Act art.61 sets only a band from 80 million to 130% of it, delegating the figure to the Decree.
Korean Comprehensive Income Tax Calculator (2026) — Where the 3.3% Refund Turns
The number 3.3% appears in no statute: it is Article 129 of the Income Tax Act (3%) multiplied by Article 103-13 of the Local Tax Act (10% of that tax). The statutory basis for the pension premium deduction is now filled in too.
Korea's Freelance 3.3% — A Number That Appears in No Statute
We opened the provisions themselves. The 3.3% turns out to be 3% x 1.1, and the 8.8% takes three provisions multiplied together.
Side Income in Korea: Must You File in May? The Provision Lists Only Who Need Not
We ran each income combination through Income Tax Act art.73 — including the clause that catches a second job paying wages.
Korea's Comprehensive Income Tax 2026 — Verified Against the NTS's Own Example
We recomputed the tax office's published worked example and matched it to the won. Plus what really counts toward the 15-million-won pension line.