WorldTax Compareโ† All Comparisons

South Korea vs Guinea
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‡ฌ๐Ÿ‡ณ Guinea
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
0โ€“40%
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
10%
Standard 10% maintained
No change
18%
No change
Corporate Tax Rate
Corporate Tax Rate
9โ€“24%
Competitiveness discussions vs global peers
No change
35%
No change
Capital Gains Tax
Capital Gains Tax
0โ€“45%
Financial income taxation reform continuing
No change
Taxed as income
No change
Social Security & Payroll
Social Security / Payroll
~18.5%
Contribution rates stable; pension reform discussion
No change
5% + 18%
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‡ฌ๐Ÿ‡ณ Guinea โ€” Guinea Tax System

Guinea has progressive income tax up to 40%. TVA (VAT) is 18%. The country holds the world's largest bauxite reserves and significant iron ore deposits, making mining-sector tax revenue critical. Following the September 2021 coup, the junta government (CNRD) has focused on renegotiating mining contracts to increase state revenue. Tax administration is being reformed with IMF support.

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 Guinea: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea has a higher top income tax rate (6โ€“45% vs 0โ€“40%). ๐Ÿ‡ฌ๐Ÿ‡ณ Guinea is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Guinea has a higher consumption tax (10% vs 18%).

๐Ÿข Corporate Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea offers a lower corporate rate (24% vs 35%), which can influence business location decisions.

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ฌ๐Ÿ‡ณ Guinea taxes investment gains at a lower rate (35% vs 45%), benefiting investors.

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