PG · OceaniaKR · Asia
Papua New Guinea vs South Korea: tax rates compared
Between the two, South Korea's income tax rate (49.5%) tops Papua New Guinea's (42%) by 7.5pp. The 200-country average is 28%: both sit above it. Papua New Guinea's figure is dated 2026-03-27 and South Korea's 2025-01-01, so the two rates come from different data vintages.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | PG | KR | Difference |
|---|---|---|---|
| Income Tax | 42% | 49.5% | KR +7.5 pplargest gap |
| Corporate Tax | 30% | 26.4% | PG +3.6 pp |
| VAT | 10% | 10% | match |
| Capital Gains Tax | 0% | 0% | match |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Papua New Guinea | 42% | Source: PWC Worldwide Tax Summaries — Papua New Guinea (Individual, Taxes on personal income) · as of 2026-03-27 |
| South Korea | 49.5% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −7.5 pp | South Korea higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Papua New Guinea | 30% | 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 | +3.6 pp | Papua New Guinea higher |
Between the two, Papua New Guinea's corporate tax rate (30%) tops South Korea's (26.4%) by 3.6pp. The 201-country average is 22.6%: both sit above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Papua New Guinea | 10% | Source: PWC Worldwide Tax Summaries — Papua New Guinea (Corporate, Other taxes) · as of 2026-03-27 |
| South Korea | 10% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Other taxes) · as of 2026-06-04 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Papua New Guinea and South Korea both post a VAT rate of 10%. The 181-country average is 15%: both sit below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Papua New Guinea | 0% | Source: PWC Worldwide Tax Summaries — Papua New Guinea (Individual, Income determination) · as of 2026-03-27 |
| 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 |
There's no gap here — Papua New Guinea and South Korea both post a capital gains tax rate of 0%. The 175-country average is 10.3%: both sit below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Papua New Guinea | 0% | Source: PWC Worldwide Tax Summaries — Papua New Guinea (Individual, Other taxes) · as of 2026-03-27 |
| 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 |
There's no gap here — Papua New Guinea and South Korea both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.