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Seychelles vs South Korea
Tax Rate Comparison

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

πŸ‡ΈπŸ‡¨ Seychelles
vs
πŸ‡°πŸ‡· South Korea
Tax Year:

πŸ’° Personal Income Tax Calculator

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

Enter your annual income above to see your personal tax comparison β†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
0–15%
No change
6–45%
Stable; political debate on top rate reduction
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
15%
No change
10%
Standard 10% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
25–33%
No change
9–24%
Competitiveness discussions vs global peers
No change
Capital Gains Tax
Capital Gains Tax
0%
No change
0–45%
Financial income taxation reform continuing
No change
Social Security & Payroll
Social Security / Payroll
3% + 20%
No change
~18.5%
Contribution rates stable; pension reform discussion
No change
State, Regional & Local Taxes

πŸ‡ΈπŸ‡¨ Seychelles β€” Seychelles Tax System

Seychelles has a progressive income tax up to 15% β€” very low by global standards. No capital gains tax. The country is an established offshore financial centre (International Business Companies, trusts). Tourism dominates the formal economy. Business Tax (corporate tax) is 25% on the first SCR 1M, 33% above. The Seychelles Revenue Commission administers tax. EU blacklisted briefly in 2019 for harmful tax practices.

πŸ‡°πŸ‡· South Korea β€” 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.

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

Seychelles vs South Korea: Key Tax Differences (2026)

πŸ’° Income Tax: πŸ‡°πŸ‡· South Korea has a higher top income tax rate (0–15% vs 6–45%). πŸ‡ΈπŸ‡¨ Seychelles is more favourable for high earners.

πŸ›’ VAT/Sales Tax: Seychelles has a higher consumption tax (15% vs 10%).

🏒 Corporate Tax: πŸ‡°πŸ‡· South Korea offers a lower corporate rate (24% vs 33%), which can influence business location decisions.

πŸ“ˆ Capital Gains: πŸ‡ΈπŸ‡¨ Seychelles taxes investment gains at a lower rate (0% vs 45%), benefiting investors.

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