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Korean Tax Glossary — Bilingual
한영 세무 용어 매핑 — Korean tax terms with official English translations and brief explanations. For foreign residents, expat workers, international tax practitioners, and academic researchers.
⚠️ For general reference only. Translations follow common usage in NTS English materials and academic papers; legal precision varies.
소득·신고 (10)
| 한국어 (Korean) | English | Note |
|---|---|---|
| 종합소득세 | Comprehensive Income Tax | 8-bracket progressive 6~45%, May 1~31 filing |
| 근로소득세 | Wage and Salary Income Tax | Withheld monthly, year-end settled |
| 연말정산 | Year-End Tax Settlement | Jan~Feb each year, employer reconciles |
| 종소세 신고 | Comprehensive Income Tax Return | Annual Form 40 filing (May 31) |
| 단순경비율 | Simple Expense Ratio (SER) | Industry-set deemed cost rate for small businesses |
| 기준경비율 | Standard Expense Ratio | Hybrid — receipts for big items, ratio for rest |
| 성실신고확인 | Sincere Reporting Verification | CPA-verified for revenue above threshold |
| 사업장현황신고 | Place of Business Status Report | For VAT-exempt businesses, due Feb 10 |
| 중간예납 | Interim Tax Prepayment | Half of prior year tax, due Nov 30 |
| 원천징수 | Withholding Tax | Tax withheld at source by payer |
부가세 (8)
| 한국어 (Korean) | English | Note |
|---|---|---|
| 부가가치세 | Value-Added Tax (VAT) | Standard 10%, single rate since 1977 |
| 일반과세자 | General VAT Taxpayer | Annual revenue ≥ KRW 100M or by election |
| 간이과세자 | Simplified VAT Taxpayer | Revenue under 100M (food/lodging 80M); 1.5~4% |
| 면세사업자 | VAT-Exempt Business | Medical, education, financial, basic groceries |
| 세금계산서 | Tax Invoice | Required for B2B VAT transactions |
| 전자세금계산서 | Electronic Tax Invoice | Mandatory for businesses with revenue ≥ 80M |
| 영세율 | Zero VAT Rate | Exports, international transport (refundable) |
| 의제매입세액공제 | Deemed Purchase VAT Credit | For agricultural produce purchases (food/wholesale) |
양도·부동산 (8)
| 한국어 (Korean) | English | Note |
|---|---|---|
| 양도소득세 | Capital Gains Tax (CGT) | On sale of real estate, stocks, derivatives |
| 1세대1주택 비과세 | 1-Household-1-Home Exemption | Tax-free if ≤ KRW 1.2B + 2-year holding |
| 장기보유특별공제 | Long-Term Holding Deduction | Up to 80% (1-home, 10y holding + residence) |
| 종합부동산세 | Comprehensive Real Estate Tax | Assets-based progressive tax, due Dec 1~15 |
| 취득세 | Acquisition Tax | 1~12% on real estate purchase |
| 재산세 | Property Tax | Annual, due July + September |
| 공시지가 | Officially Assessed Land Price | Government valuation for tax base |
| 임대소득 | Rental Income | Housing ≥ 20M annual: comprehensive tax |
증여·상속 (8)
| 한국어 (Korean) | English | Note |
|---|---|---|
| 증여세 | Gift Tax | Progressive 10~50%, 10-year aggregation |
| 상속세 | Inheritance Tax | Same rates, lump-sum deduction KRW 500M |
| 배우자공제 | Spousal Deduction | Gift: 600M / Inheritance: 500M~3B |
| 직계존비속 공제 | Lineal Ancestor/Descendant Deduction | 50M (adult), 20M (minor) per 10 years |
| 혼인공제 | Marriage Gift Deduction (2024) | Additional 100M within 2 years of marriage |
| 출산공제 | Childbirth Gift Deduction (2024) | Additional 100M within 2 years of birth |
| 부담부증여 | Burdened Gift | Gift with debt assumption (split tax treatment) |
| 일괄공제 | Lump-Sum Inheritance Deduction | Standard 500M (or larger of 인적공제 sum) |
공제·연금 (13)
| 한국어 (Korean) | English | Note |
|---|---|---|
| 소득공제 | Income Deduction | Reduces taxable income (before rate) |
| 세액공제 | Tax Credit | Reduces calculated tax (after rate) |
| 노란우산공제 | Noranumbrella Deduction | Self-employed retirement plan, 200~500M deduction |
| 연금저축 | Pension Savings | Annual 600M cap, 13.2~16.5% credit |
| IRP | IRP (Individual Retirement Pension) | Annual 300M, total 900M with pension savings |
| 근로장려금 | EITC (Earned Income Tax Credit) | Up to KRW 3.3M for low-income workers |
| 자녀장려금 | Child Tax Credit | Up to 1M per child, income ≤ 70M |
| 교육비공제 | Education Expense Credit | 15% credit, 3M cap (preschool/elementary) |
| 의료비공제 | Medical Expense Credit | 15% on amount > 3% of gross salary |
| 기부금공제 | Donation Credit | 10~30% by donation type |
| 신용카드공제 | Credit Card Deduction | 15~40% on usage > 25% of salary |
| 주택자금공제 | Housing Funds Deduction | For loan principal/interest, savings |
| 월세공제 | Monthly Rent Tax Credit | 15~17% on rent paid (income ≤ 80M, no homeowner) |
법인·기타 (10)
| 한국어 (Korean) | English | Note |
|---|---|---|
| 법인세 | Corporate Income Tax | 9~24%, 4 brackets |
| 중소기업감면 | SME Tax Reduction | 5~30% credit on calculated corporate tax |
| R&D 세액공제 | R&D Tax Credit | 25% (SME), 8~15% (medium), 0~2% (large) |
| 외부조정 | External Tax Adjustment | Required for corporate revenue > 500M |
| 결손금 이월공제 | Loss Carryforward | 15-year carryforward of business losses |
| 가산세 | Penalty (Surcharge) | Late filing 20%, late payment 0.022%/day |
| 경정청구 | Refund Claim (Correction Request) | Within 5 years of statutory filing deadline |
| 수정신고 | Amended Return | Voluntary correction (avoids 50% of penalty) |
| 4대보험 | Four Major Insurances | National Pension, Health, Employment, Workers Comp |
| 주민세 | Resident Tax | Local tax, mostly 10% surcharge on income tax |