About this guide
Filing of global income tax
Taxpayers must file and pay income tax by the deadline on their own initiative.
Interim prepayment
A resident with global income must make an interim prepayment by November 30, equal to half of the income tax paid or payable on the previous year's global income (that year's interim prepayment + voluntary payment on the final return + penalty tax).
Final return of tax base
A resident with global income files with the competent district tax office from May 1 to May 31 of the following year. A resident who must file and who leaves to move abroad files for the taxable period of departure before the departure date.
Documents to submit with the return
- Documents certifying eligibility for basic and other deductions
- Documents needed to compute gross revenue and necessary expenses
- Where business income is on books: balance sheet, income statement, compound trial balance, statement of adjustment and other evidence
- Statement of income by simplified bookkeeping, for businesses below the Enforcement Decree art. 208(5) size
- Documents relating to non-taxation and tax reduction/exemption
Penalty tax
- Non-filing (Framework Act arts. 47-2, 47-3): tax payable due to non-filing × 20% — for double-entry taxpayers, the greater of that and gross revenue × 0.07%.
- Under-reporting: under-reported tax payable × 10%.
- Fraudulent non-filing / under-reporting / unlawful reduction claim: × 40% (60% for international transactions) — for double-entry taxpayers, the greater of that and gross revenue × 0.14%.
- Late payment (art. 47-4): unpaid/underpaid tax × 0.022% per day from the day after the due date to the payment date.
- Late payment of withholding tax (art. 47-5): (unpaid tax × 3%) + (unpaid tax × 0.022% × unpaid days), capped at 10% of the unpaid tax.
- Incomplete statement of payment (Income Tax Act art. 81-11): 1% of the unreported/obscure payment amount (0.125% if submitted within one month of the deadline).
- Non-collection of supporting documents / false documents (art. 81-6): 2% of the amount — excludes new businesses, prior-year revenue under 48M won, year-end-settled insurance agents/salespersons, and estimation filers.
- Incompliant bookkeeping (art. 81-5): computed tax × (omitted or under-recorded income ÷ global income) × 20% — same exclusions as above.
- Non-reporting / non-use of a business account (art. 81-8): non-use — unused amount × 0.2%; non-report — the greater of (revenue of the unreported period × 0.2%) and (mandatory-use transactions × 0.2%); applies even with no computed tax.
Bookkeeping and statement of payment
Keeping of and entry in books (art. 160)
A business operator must keep supporting documents for computing taxable income and record business transactions in enough detail that every transaction can be objectively identified.
Submission of statement of payment (art. 164)
Anyone who pays the following must submit a statement of payment: interest income; dividend income; business income subject to withholding; wage & salary income or retirement income; pension income; other income; domestic-source income paid to non-residents.
Due dates: the last day of February of the following year; but March 10 of the following year for withheld business, wage & salary or retirement income; the last day of the following month for daily workers' wage & salary income; and, where a withholding agent suspends or closes the business, the last day of the second month after the suspension/closure month.
Appendix: taxpayers' association
A taxpayers' association may be formed — for the purpose of paying national tax — by persons receiving wage & salary income from an overseas non-resident or foreign corporation, sellers of agricultural/livestock/fishery products, and street vendors. It collects income tax from members each month, pays it to the tax office by the 10th of the next month, and its members get a 3% tax credit. Late payment penalty: 3% of the unpaid tax + 0.022% × unpaid days, capped at 10%.
Registered taxpayers' associations (as of April 2026)
| Association | Tel | Location |
|---|---|---|
| US Embassy Korean staff | 02-397-4348 | 188 Sejongdae-ro, Jongno-gu, Seoul |
| Embassy of Japan Korean staff | 02-2170-5290 | 22 Yulgok-ro 2-gil, Jongno-gu, Seoul |
| Seyang | 02-3703-8678 | 707, 28 Saemunan-ro 5ga-gil, Jongno-gu, Seoul |
| Overseas-employed seamen | 02-757-9582 | 10F, 54 Sejongdae-ro 23-gil, Jongno-gu, Seoul |
| Global | 02-3781-0085 | 22F, 92 Hangangdae-ro, Yongsan-gu, Seoul |
| Korea | 02-730-7198 | 710-401, 92 Sangamsan-ro 1-gil, Mapo-gu, Seoul |
| Kangnam | 02-2112-4066 | 34-35 Seonjam-ro, Seongbuk-gu, Seoul |
| Seoul Regional | 010-8943-0315 | 111 Yeouigongwon-ro, Yeongdeungpo-gu, Seoul |
| Namsan | 010-3967-1701 | 19F, 11 Wonhyo-ro 90-gil, Yongsan-gu, Seoul |
| Ilsin | 010-2061-4275 | 7F, 116 Teheran-ro, Gangnam-gu, Seoul |
| Orange | 02-2647-2580 | B1F 309, 389 Sinwol-ro, Yangcheon-gu, Seoul |
| LY | 031-8039-3675 | 42 Hwangseul-ro 360beon-gil, Bundang-gu, Seongnam, Gyeonggi |
| Youngnam | 051-636-3893 | 1003, 421-1 Sooyeong-ro, Nam-gu, Busan |
| CS | 055-639-2099 | 904, 21 Centum 6-ro, Haeundae-gu, Busan |
| Nexon | 010-9244-8705 | 476 Aewolhaean-ro, Aewol-eup, Jeju-si, Jeju |
| Airtax Eulgeun | 055-687-0234 | 23-1 Okposeongan-ro, Geoje-si, Gyeongsangnam-do |
| Geoje | 055-688-2141 | 7, 1F, 3696 Geojedae-ro, Geoje-si, Gyeongsangnam-do |
| Korean Mariners | 051-462-2001 | 13 Chungjangdae-ro 9-gil, Jung-gu, Busan |
| Asia | 02-6676-2472 | 5F, 10 Gukjegeumyung-ro, Yeongdeungpo-gu, Seoul |
| Jamsil | 010-8839-3008 | 1218 Yangjaedae-ro 121-303, Songpa-gu, Seoul |
NTS services for foreign taxpayers
- Foreign Taxpayer Help-line (English): 1588-0560
- Q&A and Foreign Taxpayer Advocate (English), and the NTS English website: www.nts.go.kr/english/main.do
- NTS Tax Consultation Center: 126
- Hometax: www.hometax.go.kr