WorldTax Compareโ† All Comparisons

South Korea vs Venezuela
Tax Rate Comparison

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

๐Ÿ‡ฐ๐Ÿ‡ท South Korea
vs
๐Ÿ‡ป๐Ÿ‡ช Venezuela
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
6โ€“45%
Stable; political debate on top rate reduction
No change
6โ€“34%
34% top; dollarized economy stabilizing tax base
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
10%
Standard 10% maintained
No change
16%
16% IVA maintained
No change
Corporate Tax Rate
Corporate Tax Rate
9โ€“24%
Competitiveness discussions vs global peers
No change
15โ€“34%
15โ€“34%; oil sector investment incentives
No change
Capital Gains Tax
Capital Gains Tax
0โ€“45%
Financial income taxation reform continuing
No change
34%
34% as income
No change
Social Security & Payroll
Social Security / Payroll
~18.5%
Contribution rates stable; pension reform discussion
No change
~20%
IVSS reform needed; formal sector growing slowly
No change
State, Regional & Local Taxes

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.

๐Ÿ‡ป๐Ÿ‡ช Venezuela โ€” Municipal & State Taxes

Venezuela's 23 states and Caracas Capital District have constitutionally defined taxing powers. States levy taxes on minerals, hydrocarbons (petrรณleo royalties), and salinas. Municipalities levy the Impuesto sobre Actividades Econรณmicas (IAE) โ€” a gross receipts tax โ€” at 0.5%โ€“10% on businesses, varying dramatically by municipality. The SENIAT (tax authority) administers national taxes. Hyperinflation (2017โ€“2021) destroyed the bolรญvar and most formal taxation. Dollarization and new strong bolรญvar (VES) partially stabilized the system. Significant informal economy.

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.

South Korea vs Venezuela: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea has a higher top income tax rate (6โ€“45% vs 6โ€“34%). ๐Ÿ‡ป๐Ÿ‡ช Venezuela is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Venezuela has a higher consumption tax (10% vs 16%).

๐Ÿข Corporate Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea offers a lower corporate rate (24% vs 34%), which can influence business location decisions.

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ป๐Ÿ‡ช Venezuela taxes investment gains at a lower rate (34% vs 45%), benefiting investors.

Related Comparisons

๐Ÿ‡ฆ๐Ÿ‡บ Australia vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡จ๐Ÿ‡ฆ Canada vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡จ๐Ÿ‡ณ China vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ฉ๐Ÿ‡ช Germany vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ญ๐Ÿ‡ฐ Hong Kong vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ฏ๐Ÿ‡ต Japan vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ธ๐Ÿ‡ฌ Singapore vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ฐ๐Ÿ‡ท South Korea vs ๐Ÿ‡น๐Ÿ‡ผ TaiwanTax comparison๐Ÿ‡ฐ๐Ÿ‡ท South Korea vs ๐Ÿ‡ฌ๐Ÿ‡ง United KingdomTax comparison๐Ÿ‡ฐ๐Ÿ‡ท South Korea vs ๐Ÿ‡บ๐Ÿ‡ธ United StatesTax comparison