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Papua New Guinea vs South Korea
Tax Rate Comparison

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

๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea
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
22โ€“42%
42% top; resource boom affecting distribution
No change
6โ€“45%
Stable; political debate on top rate reduction
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
10%
GST 10% maintained
No change
10%
Standard 10% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
30%
30%; new LNG projects fiscal terms negotiation
No change
9โ€“24%
Competitiveness discussions vs global peers
No change
Capital Gains Tax
Capital Gains Tax
17%
17% non-residents
No change
0โ€“45%
Financial income taxation reform continuing
No change
Social Security & Payroll
Social Security / Payroll
~12.5%
Superannuation fund growth; coverage limited to formal
No change
~18.5%
Contribution rates stable; pension reform discussion
No change
State, Regional & Local Taxes

๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea โ€” Provincial & Local Government Taxes

Papua New Guinea's 22 provinces and the National Capital District levy their own provincial income taxes on certain income types, business licence fees, and sundry local charges. The Internal Revenue Commission (IRC) administers national taxes. PNG's economy is dominated by extractive industries (LNG, gold, copper) under fiscal resource contracts. The LNG sector has transformed government revenues. Significant informal economy and subsistence agriculture outside the formal tax base. A GST at 10% applies broadly.

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.

Papua New Guinea vs South Korea: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea has a higher top income tax rate (22โ€“42% vs 6โ€“45%). ๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Both countries have comparable consumption tax rates (10% vs 10%).

๐Ÿข Corporate Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea offers a lower corporate rate (24% vs 30%), which can influence business location decisions.

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea taxes investment gains at a lower rate (17% vs 45%), benefiting investors.

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