PH · AsiaKR · Asia
Philippines vs South Korea: tax rates compared
South Korea has an income tax rate of 49.5%, 14.5pp above Philippines's 35%. The 200-country average is 28%: both sit above it. Philippines's figure is dated 2026-07-02 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 | PH | KR | Difference |
|---|---|---|---|
| Income Tax | 35% | 49.5% | KR +14.5 pplargest gap |
| Corporate Tax | 25% | 26.4% | KR +1.4 pp |
| VAT | 12% | 10% | PH +2 pp |
| Capital Gains Tax | 0.6% | 0% | PH +0.6 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Philippines | 35% | Source: PWC Worldwide Tax Summaries — Philippines (Individual, Taxes on personal income) · as of 2026-07-02 |
| South Korea | 49.5% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −14.5 pp | South Korea higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Philippines | 25% | 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 | −1.4 pp | South Korea higher |
South Korea has a corporate tax rate of 26.4%, 1.4pp above Philippines's 25%. The 201-country average is 22.6%: both sit above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Philippines | 12% | Source: PWC Worldwide Tax Summaries — Philippines (Corporate, Other taxes) · as of 2026-01-12 |
| South Korea | 10% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Other taxes) · as of 2026-06-04 |
| Difference | +2 pp | Philippines higher |
Philippines has a VAT rate of 12%, 2pp above South Korea's 10%. The 181-country average is 15%: both sit below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Philippines | 0.6% | Source: PWC Worldwide Tax Summaries — Philippines (Individual, Income determination) · as of 2026-07-02 |
| South Korea | 0% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Individual, Income determination) · as of 2026-07-02 |
| Difference | +0.6 pp | Philippines higher |
Philippines has a capital gains tax rate of 0.6%, 0.6pp above South Korea's 0%. The 175-country average is 10.3%: both sit below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Philippines | 0% | Source: PWC Worldwide Tax Summaries — Philippines (Net wealth/worth tax rates) · as of 2026-01-12 |
| 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 |
Philippines and South Korea share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.