October 2026 Tax Schedule in Korea

 

October 2026 has three public holidays. National Foundation Day falls on Saturday, 3 October. Because it lands on a weekend, Monday 5 October is a substitute holiday. Hangul Day follows on Friday, 9 October.

That leaves very few working days before the first deadline. The offices are open on 1–2 October, 6–8 October and 12 October.

Holiday make the the deadlines move

Three October deadlines land on a weekend. Under the Framework Act on National Taxes (Article 5(1)), the deadline then moves to the next working day.

• Withholding tax: 10 Oct (Sat) → 12 Oct (Mon)
• VAT: 25 Oct (Sun) → 26 Oct (Mon)
• Payment statements: 31 Oct (Sat) → 2 Nov (Mon)

 

 

Point 1. Withholding tax filing and payment (12 October)

When you pay a salary, you must deduct income tax first. Then you report it and pay it to the tax office on the employee's behalf.

For example, when the contracted salary is 2,000,000 KRW and the tax withheld is 100,000 KRW. The employee receives 1,900,000 KRW before other deductions such as social insurance. You report and pay the 100,000 KRW to the tax office. The real amount comes from the simplified tax table.

The deadline is the 10th of the month after the payment. For September payments, that is 10 October. This year it moves to 12 October.

The return covers more than salaries. Any payment with tax withheld goes on it:

1. Salary: the tax withheld from your employees 
2. Freelancer fees: 3.3% is withheld (3% income tax plus 0.3% local income tax).
3. Royalties or service fees paid to a foreign company: tax is withheld and reported here too. A tax treaty may lower the rate.

So when company make those kind of payment, the first thing to check is whether company has obligation to withhold tax and report to tax office.

Point 2. VAT for individuals and small corporations (26 October)

The preliminary VAT period is July to September. The deadline is 25 days after it ends This year it moves to 26 October.

The following businesses do not file a preliminary return:

1. Individual businesses (general taxpayers).
2. Corporations whose supply value in the previous half-year (January to June) was under 150 million KRW.

Instead, the tax office sends a payment notice. The amount is 50% of the VAT you paid for January to June 

• If the notice amount is under 500,000 KRW, tax office will not sent the payment notice.
• The amount you pay is deducted from your final return in January 2027. (Yes, it's prepaid tax)
• You may file a preliminary return instead if your business dropped sharply or you want an early refund
• Simplified VAT taxpayers pay a notice amount in July, so nothing is due in October.

Point 3. VAT for corporations (26 October)

Corporations business file a preliminary return every quarter. This applies to corporations with previous half-year supply of 150 million KRW or more, and to newly established corporations. The July to September return shows your sales, your purchases and the VAT on both.

Please make sure every tax invoice is issued or received before you file. Missing invoices mean missing VAT credits.

 

Point 4. Payment statements (2 November)

A payment statement lists each person you paid, how much you paid and how much tax you withheld. It is not the same as the withholding tax return. The return shows totals. The statement shows person by person.

How often you file depends on the type of income:

1. Daily-wage income: monthly, by the end of the following month (Income Tax Act, Article 164).
2. Business income with 3.3% withheld (freelancers): monthly (Income Tax Act, Article 164-3(1)).
3. Other income from one-off personal services: monthly (Income Tax Act, Article 164-3(1)).
4. Salary income: twice a year, for January to June by the end of July and for July to December by the end of January. The monthly rule was postponed, so it starts with payments made from 1 January 2027.

September payments are due on 31 October (Saturday). This year the deadline moves to 2 November.

A late or missing statement brings a penalty tax, calculated as a percentage of the amount paid. The rate is lower if you file within one month after the deadline 

 

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