OrbitaxSouth Korea National Assembly Approves Increase in Corporate Tax Rates and Other Budget Measures
|Approved Changes|South Korea
On 2 December 2025, the South Korean National Assembly approved several budget-related amendment bills. This includes an amendment to the Corporate Tax Act for a 1% increase in each of the four corporate tax brackets, resulting in the following brackets/rates with effect from 1 January 2026:
- up to KRW 200 million - 10%
- KRW 200 million to KRW 20 billion - 20%
- KRW 20 billion to KRW 300 billion -…