SG · AsiaKR · Asia
Singapore vs South Korea: tax rates compared
Between the two, South Korea's income tax rate (49.5%) tops Singapore's (24%) by 25.5pp. The 200-country average is 28%: Singapore sits below it, South Korea sits above it. Singapore's figure is dated 2026-04-27 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 | SG | KR | Difference |
|---|---|---|---|
| Income Tax | 24% | 49.5% | KR +25.5 pplargest gap |
| Corporate Tax | 17% | 26.4% | KR +9.4 pp |
| VAT | 9% | 10% | KR +1 pp |
| Capital Gains Tax | 0% | 0% | match |
| Crypto Tax | 0% | 0% | match |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 24% | Source: Inland Revenue Authority of Singapore (IRAS) — Individual Income Tax rates · as of 2026-04-27 |
| South Korea | 49.5% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −25.5 pp | South Korea higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 17% | 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 | −9.4 pp | South Korea higher |
Between the two, South Korea's corporate tax rate (26.4%) tops Singapore's (17%) by 9.4pp. The 201-country average is 22.6%: Singapore sits below it, South Korea sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Singapore | 9% | Source: PWC Worldwide Tax Summaries — Singapore (Corporate, Other taxes) · as of 2026-07-02 |
| South Korea | 10% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Other taxes) · as of 2026-06-04 |
| Difference | −1 pp | South Korea higher |
Between the two, South Korea's VAT rate (10%) tops Singapore's (9%) by 1pp. The 181-country average is 15%: both sit below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 0% | Source: PWC Worldwide Tax Summaries — Singapore (Individual, Other taxes) · 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 pp | displayed rates match |
There's no gap here — Singapore and South Korea both post a capital gains tax rate of 0%. The 175-country average is 10.3%: both sit below it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 0% | Source: IRAS e-Tax Guide — Income Tax Treatment of Digital Tokens · as of 2026-01-30 |
| 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 |
There's no gap here — Singapore and South Korea both post a crypto tax rate of 0%. The 88-country average is 13%: both sit below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 0% | Source: PWC Worldwide Tax Summaries — Singapore (Individual, Other taxes) · as of 2026-07-02 |
| 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 — Singapore and South Korea both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.