In Korea, taxpayers are required to file and pay income tax on their global income by the designated due date for filing income tax returns. Additionally, residents with global income must make interim prepayments of income tax to the relevant authorities. In this blog post, we will explore the key aspects of income tax filing, interim prepayment, and the final return process for global income i..
Understanding the Standard & Simplified Expense Rate System we will delve into the Standard & Simplified Expense Rate System for income tax in Korea. Whether you're a business operator or a taxpayer subject to this system, understanding the principles and calculations can significantly impact your tax return. The Standard Expense Rate Calculation All business operators are required to file their..