South Korea vs Libya
Tax Rate Comparison
Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.
💰 Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country — side by side.
Individual Income Tax (Top Marginal Rate)
VAT / GST / Sales Tax
Corporate Tax Rate
Capital Gains Tax
Social Security & Payroll
🇰🇷 South Korea — 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.
🇱🇾 Libya — Municipal Taxes
Libya's highly fragmented political situation (two rival governments until recent consolidation efforts) has severely disrupted tax administration. The National Oil Corporation (NOC) dominates revenues via oil royalties and profits — effectively subsidizing government operations with limited need for broad-based taxation. Municipal councils levy limited local fees. The Tax Authority administers a Jihad tax (2.5% of income), employer stamp duty, and other levies. Most of the economy operates on oil subsidies rather than formal taxation.
South Korea vs Libya: Key Tax Differences (2026)
💰 Income Tax: 🇰🇷 South Korea has a higher top income tax rate (6–45% vs 0–15%). 🇱🇾 Libya is more favourable for high earners.
🛒 VAT/Sales Tax: South Korea has a higher consumption tax (10% vs 0%).
🏢 Corporate Tax: 🇱🇾 Libya offers a lower corporate rate (20% vs 24%), which can influence business location decisions.
📈 Capital Gains: 🇱🇾 Libya taxes investment gains at a lower rate (20% vs 45%), benefiting investors.