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Paraguay vs South Korea
Tax Rate Comparison

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

πŸ‡΅πŸ‡Ύ Paraguay
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
8–10%
10% top; competitive positioning
No change
6–45%
Stable; political debate on top rate reduction
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
10%
10% IVA maintained
No change
10%
Standard 10% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
10%
10%; Pillar Two for large MNCs operating in Paraguay
No change
9–24%
Competitiveness discussions vs global peers
No change
Capital Gains Tax
Capital Gains Tax
8–10%
8%/10% maintained
No change
0–45%
Financial income taxation reform continuing
No change
Social Security & Payroll
Social Security / Payroll
~25.5%
IPS reform discussions; adequacy concerns
No change
~18.5%
Contribution rates stable; pension reform discussion
No change
State, Regional & Local Taxes

πŸ‡΅πŸ‡Ύ Paraguay β€” Municipal & Departmental Taxes

Paraguay's 17 departments and 254 municipalities levy the Impuesto Inmobiliario (property tax at 1% of assessed value), commercial licence fees (patente comercial), and vehicle registration fees. AsunciΓ³n has the highest commercial licence fees. The SubsecretarΓ­a de Estado de TributaciΓ³n (SET) administers national taxes. Paraguay has one of Latin America's lowest tax burdens (~12% of GDP) and has used flat low rates to attract foreign residents (MADES visa) and financial activity. No wealth tax exists.

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.

Paraguay vs South Korea: Key Tax Differences (2026)

πŸ’° Income Tax: πŸ‡°πŸ‡· South Korea has a higher top income tax rate (8–10% vs 6–45%). πŸ‡΅πŸ‡Ύ Paraguay is more favourable for high earners.

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

🏒 Corporate Tax: πŸ‡΅πŸ‡Ύ Paraguay offers a lower corporate rate (10% vs 24%), which can influence business location decisions.

πŸ“ˆ Capital Gains: πŸ‡΅πŸ‡Ύ Paraguay taxes investment gains at a lower rate (10% vs 45%), benefiting investors.

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