MG · AfricaKR · Asia
Madagascar vs South Korea: tax rates compared
South Korea has an income tax rate of 49.5%, 24.5pp above Madagascar's 25%. The 200-country average is 28%: Madagascar sits below it, South Korea sits above it. Madagascar's figure is dated 2026-01-01 and South Korea's 2025-01-01, so the two rates come from different data vintages.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | MG | KR | Difference |
|---|---|---|---|
| Income Tax | 25% | 49.5% | KR +24.5 pplargest gap |
| Corporate Tax | 20% | 26.4% | KR +6.4 pp |
| VAT | 20% | 10% | MG +10 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Madagascar | 25% | Source: Ministère de l'Économie et des Finances (Madagascar) — Loi n° 2025-021 portant Loi de Finances pour 2026, Article 01.03.16 · as of 2026-01-01 |
| South Korea | 49.5% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −24.5 pp | South Korea higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Madagascar | 20% | 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 | −6.4 pp | South Korea higher |
South Korea has a corporate tax rate of 26.4%, 6.4pp above Madagascar's 20%. The 201-country average is 22.6%: Madagascar sits below it, South Korea sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Madagascar | 20% | Source: PWC Worldwide Tax Summaries — Madagascar (Corporate, Other taxes) · as of 2025-11-18 |
| South Korea | 10% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Other taxes) · as of 2026-06-04 |
| Difference | +10 pp | Madagascar higher |
Madagascar has a VAT rate of 20%, 10pp above South Korea's 10%. The 181-country average is 15%: Madagascar sits above it, South Korea sits below it. Madagascar's figure is dated 2025-11-18 and South Korea's 2026-06-04, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Madagascar | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2025-11-18 |
| 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 |
Madagascar and South Korea share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it. Madagascar's figure is dated 2025-11-18 and South Korea's 2026-07-02, so the two rates come from different data vintages.
Not covered for both countries yet: Capital Gains Tax, Crypto Tax.