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Monaco vs South Korea
Tax Rate Comparison

Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.

๐Ÿ‡ฒ๐Ÿ‡จ Monaco
vs
๐Ÿ‡ฐ๐Ÿ‡ท South Korea
Tax Year:

๐Ÿ’ฐ Personal Income Tax Calculator

Enter your income to see your estimated annual tax liability in each country โ€” side by side.

Enter your annual income above to see your personal tax comparison โ†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
0%
No personal income tax maintained
No change
6โ€“45%
Stable; political debate on top rate reduction
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
20%
French VAT: 20% standard
No change
10%
Standard 10% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
33.33%
33.33% qualifying profits; Pillar Two top-up for MNCs
No change
9โ€“24%
Competitiveness discussions vs global peers
No change
Capital Gains Tax
Capital Gains Tax
0%
No CGT for residents
No change
0โ€“45%
Financial income taxation reform continuing
No change
Social Security & Payroll
Social Security / Payroll
~30%
Social contributions stable; high living standards
No change
~18.5%
Contribution rates stable; pension reform discussion
No change
State, Regional & Local Taxes

๐Ÿ‡ฒ๐Ÿ‡จ Monaco โ€” No Sub-National Tax Variation

Monaco is a city-state with no sub-national taxation. Monaco has no personal income tax for residents (with limited exception for French nationals under a bilateral treaty). Corporate tax at 33.33% applies only to companies deriving more than 25% of revenue from outside Monaco. This principality between France and Italy is the world's most famous tax haven โ€” with the world's highest per-capita millionaires. VAT is aligned with the French system.

๐Ÿ‡ฐ๐Ÿ‡ท South Korea โ€” Local Income Tax & Resident Tax

South Korea's 17 metropolitan/provincial governments levy local income tax at 10% of national income tax. Property holding tax (Jongbu-se) is a national progressive tax on higher-value properties. Local education taxes and acquisition taxes apply to property transfers. Seoul has higher effective rates due to property values.

โš ๏ธ Disclaimer: Rates shown are standard top/headline rates for informational purposes. Actual tax liability depends on income level, residency, deductions, and tax treaties. 2025โ€“2026 data reflects announced or enacted rates and may be subject to change. Not financial or legal advice.

Monaco vs South Korea: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea has a higher top income tax rate (0% vs 6โ€“45%). ๐Ÿ‡ฒ๐Ÿ‡จ Monaco is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Monaco has a higher consumption tax (20% vs 10%).

๐Ÿข Corporate Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea offers a lower corporate rate (24% vs 33.33%), which can influence business location decisions.

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ฒ๐Ÿ‡จ Monaco taxes investment gains at a lower rate (0% vs 45%), benefiting investors.

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