MV · AsiaKR · Asia
Maldives vs South Korea: tax rates compared
South Korea has an income tax rate of 49.5%, 34.5pp above Maldives's 15%. The 200-country average is 28%: Maldives sits below it, South Korea sits above it. Maldives's figure is dated 2020-01-01 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 | MV | KR | Difference |
|---|---|---|---|
| Income Tax | 15% | 49.5% | KR +34.5 pplargest gap |
| Corporate Tax | 15% | 26.4% | KR +11.4 pp |
| VAT | 8% | 10% | KR +2 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Maldives | 15% | Source: Maldives Inland Revenue Authority (MIRA) — Individuals, Overview · as of 2020-01-01 |
| South Korea | 49.5% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −34.5 pp | South Korea higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Maldives | 15% | 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 | −11.4 pp | South Korea higher |
South Korea has a corporate tax rate of 26.4%, 11.4pp above Maldives's 15%. The 201-country average is 22.6%: Maldives sits below it, South Korea sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Maldives | 8% | Source: Maldives Inland Revenue Authority (MIRA) — Goods and Services Tax (GST) Overview · as of 2023-01-01 |
| South Korea | 10% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Other taxes) · as of 2026-06-04 |
| Difference | −2 pp | South Korea higher |
South Korea has a VAT rate of 10%, 2pp above Maldives's 8%. The 181-country average is 15%: both sit below it. Maldives's figure is dated 2023-01-01 and South Korea's 2026-06-04, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Maldives | 0% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 (content current as of 1 October 2025, published February 2026) — Maldives chapter · as of 2025-10-01 |
| 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 |
Maldives and South Korea share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it. Maldives's figure is dated 2025-10-01 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.