BB · AmericasKR · Asia
Barbados vs South Korea: tax rates compared
South Korea has an income tax rate of 49.5%, 21pp above Barbados's 28.5%. The 200-country average is 28%: both sit above it. Barbados's figure is dated 2026-01-11 and South Korea's 2025-01-01, so the two rates come from different data vintages.
Verified data covers six of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | BB | KR | Difference |
|---|---|---|---|
| Income Tax | 28.5% | 49.5% | KR +21 pplargest gap |
| Corporate Tax | 9% | 26.4% | KR +17.4 pp |
| VAT | 17.5% | 10% | BB +7.5 pp |
| Capital Gains Tax | 0% | 0% | match |
| Crypto Tax | 0% | 0% | match |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 28.5% | Source: PWC Worldwide Tax Summaries — Barbados (Individual, Taxes on personal income) · as of 2026-01-11 |
| South Korea | 49.5% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −21 pp | South Korea higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 9% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| South Korea | 26.4% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −17.4 pp | South Korea higher |
South Korea has a corporate tax rate of 26.4%, 17.4pp above Barbados's 9%. The 201-country average is 22.6%: Barbados sits below it, South Korea sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Barbados | 17.5% | Source: PWC Worldwide Tax Summaries — Barbados (Corporate, Other taxes) · as of 2026-01-11 |
| South Korea | 10% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Other taxes) · as of 2026-06-04 |
| Difference | +7.5 pp | Barbados higher |
Barbados has a VAT rate of 17.5%, 7.5pp above South Korea's 10%. The 181-country average is 15%: Barbados sits above it, South Korea sits below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PWC Worldwide Tax Summaries — Barbados (Individual, Income determination) · as of 2026-01-11 |
| South Korea | 0% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Individual, Income determination) · as of 2026-07-02 |
| Difference | 0 pp | displayed rates match |
Barbados and South Korea share the same capital gains tax rate: 0%. The 175-country average is 10.3%: both sit below it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PwC Worldwide Tax Summaries — Barbados (Individual, Income determination) · as of 2026-01-11 |
| South Korea | 0% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Income determination — Income from virtual assets) · as of 2026-06-04 |
| Difference | 0 pp | displayed rates match |
Barbados and South Korea share the same crypto tax rate: 0%. The 88-country average is 13%: both sit below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PWC Worldwide Tax Summaries — Barbados (Net wealth/worth tax rates) · as of 2026-01-11 |
| South Korea | 0% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Individual, Other taxes) · as of 2026-07-02 |
| Difference | 0 pp | displayed rates match |
Barbados and South Korea share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.