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cpa in Korea

Severance payment in Korea Severance payment, also called retirement benefit or separation pay, refers to the money a company pays an employee as compensation for their period of service when the employee leaves the company. This system is common not only in Korea but also in other countries, although the details may differ.In Korea, the basic rule for severance payment is that an employee must have worked for at least on.. 더보기
Sep 2025 Tax schedule in Korea 2.Withholding tax filing(9/10) When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them.*For example, if your employee has a contracted salary of 2,000,000 KRW, you must deduct 100,000 KRW for taxes, and pay your employee 1,900,000 KRW. The 100,000 KRW you deducted must be reported on a withhold tax return and paid to the tax office on .. 더보기
April 2025 Tax schedule in Korea 1.VAT payment for individual business owners (25th Apr)If you own business as an individual, you will receive a VAT payment bill from the tax authority. Even if you don't file VAT returns, you are required to pay half of the VAT amounts you paid during your last VAT filing. This is an advance tax payment that will be deducted from your next VAT filing (4/25) 2.VAT filing for corporations (25th A.. 더보기
March Tax schedule in Korea 1.Corporate inocme tax filing (31st Mar)If you run a corporate business in Korea, corporate income tax filing is one of the most important tax filings of the year. You need to pay taxes on your company’s profits by submitting a corporate income tax return to the tax office and making the payment by the end of March.The deadline for filing is three months after the end of the fiscal year, which i.. 더보기
February Tax schedule in Korea 1.Preparation for Year-end tax settlement Nevertheless, the legal due date for the year-end tax settlement for employees is March 10th, but every company should complete the process in February (and many companies do it in January as well).Year-end tax settlement applies only to individuals working as employees of a company.If you are an individual business owner, you do not need to do a year-en.. 더보기
[Tax Updates 2024] The special flat tax rate for foreigner applying period has been extended! In Korea, tax rates adhere to a progressive tax rate system, where the tax rate increases with higher income. As per the income tax law, tax rates range from 6% to 45%. Nevertheless, there exists a special taxation scheme for foreigners. Those who qualify for this special taxation can benefit from a 20% flat tax rate. While the 20% tax rate may seem lower compared to the normal progressive tax r.. 더보기

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