Korea's Rankings
Overall Rank2659.54
Corporate Taxes3344.16
Individual Taxes2065.16
Consumption Taxes297.73
Property Taxes2653.35
International Tax Rules3443.73

Korea ranks 26th overall on the 2019 International Tax Competitiveness Index, two spots worse than 2018.


  • Korea has a low VAT of 10 percent that is applied to a relatively broad base.
  • Korea has a broad tax treaty network, with 93 countries.
  • Business investments in machinery receive better-than-average treatment for corporate write-offs.


  • Korea has multiple distortionary property taxes with separate levies on real estate, estates, and financial transactions.
  • The personal income tax rate on dividends is 40.3 percent (compared to an OECD average of 23.8 percent).
  • Companies are severely limited in the amount of net operating losses they can use to offset future profits or reduce past taxable income.

Get email updates about global tax policy from the Tax Foundation.

Subscribe today!