Our chartered accountant in South Korea offers an insight into the country’s taxation system and the services we offer in this sense.
| Quick Facts | |
|---|---|
| Types of accounting services available in Korea | – bookkeeping, – financial statement drafting and filing, – tax consultancy, – tax optimization, etc. |
Support in tax registration (YES/NO) | Yes, we offer assistance for tax registration in Korea. |
Payroll & HR services (YES/NO) | Yes, our accountants can handle HR and payroll in a company. |
| Audit services availability (YES/NO) | Our auditors can provide various types of audit services in South Korea. |
| VAT-related services available | VAT registration and reporting solutions are available with us. |
| Availability to work with accredited accountants in South Korea (YES/NO) | Yes, our accountants are members of the Association of Certified Public Tax Accountants. |
| Industry-related accounting services available for companies (YES/NO) | Yes |
| Investment advice | Our accountants can also offer investment advice in South Korea. |
| Tax compliance for expats | Yes, we are at the service of foreign people. |
| Accounting and reporting standards employed in Korea | International Financial Reporting Standards (IFRS) and Korean IFRS |
| Personal income tax rate | The personal income tax rate is applied at progressive rates ranging from 6% to 45%. |
| Corporate tax rate | 10% to 25% |
| VAT rates | – 10% the standard rate, – 0% on exports, transport of exported goods, finance and insurance services among others |
| Other applicable taxes | Local income tax for companies ranging from 0.9% to 2.4% |
| Other services (if available) | – fiscal representation with the tax authorities, – financial planning, – special services for small companies |
Table of Contents
What are the accounting services you provide?
Our South Korean chartered accountant and our team of accountants in Korea offer the following services:
- tax advice and planning, which is the key to success for many businesses;
- tax registration when opening a company in Korea;
- VAT/GST registration for companies;
- bookkeeping and accounting services;
- audit services are also available for companies;
- payroll and HR support for businesses in need of keeping track of employee records;
- financial statements preparation and filing in accordance with the latest accounting standards.
What types of companies do you provide services to?
- Korean companies;
- foreign companies that operate through branches and subsidiaries;
- non-resident companies selling goods or services in Korea.
What bookkeeping services do you offer in South Korea?
We usually:
- enter all financial transactions into the accounting system;
- maintain accurate and updated accounting records;
- prepare and submit quarterly VAT returns;
- prepare periodic financial reports to the international head office on a monthly, quarterly, or annual basis.
We also have an infographic detailing our services:
What are your payroll services?
Our team of Korean accountants can handle the following:
- drafting the monthly payroll sheet and payment of payroll income taxes;
- making monthly salary payments to all employees;
- issuing and distributing individual monthly pay slips;
- preparing and filing monthly withholding income tax returns to the tax office;
- maintaining the payroll income tax withholding register for each employee;
- making severance payments and income for termination of employment purposes.
What are your audit services?
Among our auditing services there are:
- financial audits, as required by law;
- financial audits conducted voluntarily;
- internal controls audits.
Do you also offer financial statement drafting and filing services in Korea?
Yes, we can assist with the following:
- documents preparation in accordance with the International Financial Statements Reporting Standards (IFRS);
- financial statements creation in paper or electronic format.
IMPORTANT! We can draft both audited and non-audited financial statements, in accordance with the requirements of the Korean legislation.
Do you offer assistance in applying for tax incentives in South Korea in 2026?
Yes, our accountants can help with:
- claiming tax refunds, in accordance with the law;
- applying for VAT refunds, if applicable;
- filing for government grants, based on the sector your company operates in.
Here is also a video on our services:
Do you also offer support on double taxation matters?
Yes, if you are a foreign investor from one of the approximately 100 countries with which South Korea has such agreements in place, feel free to request assistance if you have uncertainties or want to prepare documents related to taxation in both states.
Do you also service sole traders in South Korea?
Yes, we are also at the service of sole proprietors in South Korea with specific solutions targeting the needs of small enterprises.
Can I ask for industry-related accounting services for my company?
Yes, you can. We are at the service of businesses in targeted sectors like manufacturing and IT, which are representative for the Korean economy, and also to other types of activities.
Do you offer fiscal representation if I do not want to open a physical place of business in Korea?
Yes, we are at the service of companies that want to distance sell goods or services in Korea.
Do you also offer accounting services to natural persons, local or foreign, in Korea?
Definitely, should you need assistance with meeting your tax obligations as an individual, feel free to rely on us.
Do you personalize accounting services?
Yes, our services are based on the needs of our clients, who can choose to work with us one time or on a recurrent basis.
How much do your accounting services in Korea cost?
We can charge:
- by the hour, if you need a one-time service;
- by package, if you decide to work with us on a monthly basis.
In the latter case, we offer personalized packages, so feel free to ask for an offer.
The professional accounting bodies in South Korea are the Institute of Certified Accountants and the Association of Certified Public Tax Accountants.
If you are interested in accounting services in South Korea in 2026, contact us. Our accountants in South Korea are at your disposal.