Writer 관리자 Date 2011-07-27
 Title WITHOLDING TAXES
 Content 7 WITHOLDING TAXES
A person paying the following income to a domestic corporation is required to withhold corporation tax/income tax on the income at the prescribed tax rates at the time of such payment, and pay it to the government by the 10th of the following month.
7.1 Interest
Corporation Tax/ Income Tax
· Interest prescribed by the Income Tax Law: 14%
· Interest from a non-commercial loan: 25%
7.2 Dividends
Income Tax/ Corporation Tax: 20%
This document is provided as a general overview of matters to be considered when setting up an overseas business in South Korea. It is essential to take advice on specific issues. No liability can be accepted for any action taken or not taken arising from the information provided.



Prepared by: Mr. Doo-Yeol Lee
Woori Accounting Corporation
Amended: November 2010
For further information on the services available from the DFK International Member firm in South Korea please contact:
Mr. Doo-Yeol Lee
Woori Accounting Corporation
Tel: +82 2 565 7083
Email: LDY1613@unitel.co.kr
Web: www.ventureplaza.co.kr/english