Corporate tax: 두 판 사이의 차이
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Corporate income tax is the tax imposed on the profits earned by corporations, It's a charge levied on a firm’s taxable income, which represents the profit remaining after deducting all allowable expenses from total sales. | Corporate income tax is the tax imposed on the profits earned by corporations, It's a charge levied on a firm’s taxable income, which represents the profit remaining after deducting all allowable expenses from total sales. | ||
Korea has a graduated tax, applying a higher tax rate for a higher income. | |||
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For instance, a Korean corporation with a taxable income of 30 billion KRW would be taxed as | For instance, a Korean corporation with a taxable income of 30 billion KRW would be taxed as this: | ||
For the first 200 million KRW, | For the first 200 million KRW, 9 %. | ||
From 200 million to 20 billion KRW, | From 200 million to 20 billion KRW, increases to 19 %. | ||
For income between 20 billion and 300 billion KRW, | For income between 20 billion and 300 billion KRW, 21 % . | ||
Calculating under this system, the total corporate tax amounts to 5.88 billion KRW, giving an average tax rate of approximately 19.6 % | Calculating under this system, the total corporate tax amounts to 5.88 billion KRW, giving an average tax rate of approximately 19.6 % | ||