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Eritrea vs South Korea
Tax Rate Comparison

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

πŸ‡ͺπŸ‡· Eritrea
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
0–38%
No change
6–45%
Stable; political debate on top rate reduction
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
5%
No change
10%
Standard 10% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
30%
No change
9–24%
Competitiveness discussions vs global peers
No change
Capital Gains Tax
Capital Gains Tax
Taxed as income
No change
0–45%
Financial income taxation reform continuing
No change
Social Security & Payroll
Social Security / Payroll
4% + 10%
No change
~18.5%
Contribution rates stable; pension reform discussion
No change
State, Regional & Local Taxes

πŸ‡ͺπŸ‡· Eritrea β€” Eritrea Tax System

Eritrea has a progressive income tax up to 38%. Uniquely, it levies a 2% 'diaspora tax' on Eritrean citizens living abroad β€” a controversial policy condemned by the UN. Corporate tax is 30%. The highly centralized command economy under President Isaias Afwerki limits private sector activity. Mining (gold, copper, zinc) is the main formal revenue sector. International sanctions apply.

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.

Eritrea vs South Korea: Key Tax Differences (2026)

πŸ’° Income Tax: πŸ‡°πŸ‡· South Korea has a higher top income tax rate (0–38% vs 6–45%). πŸ‡ͺπŸ‡· Eritrea is more favourable for high earners.

πŸ›’ VAT/Sales Tax: South Korea has a higher consumption tax (5% vs 10%).

🏒 Corporate Tax: πŸ‡°πŸ‡· South Korea offers a lower corporate rate (24% vs 30%), which can influence business location decisions.

πŸ“ˆ Capital Gains: πŸ‡ͺπŸ‡· Eritrea taxes investment gains at a lower rate (30% vs 45%), benefiting investors.

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