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South Korea vs Maldives
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‡ฒ๐Ÿ‡ป Maldives
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€“15%
15% top; tourism revenue recovery
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
10%
Standard 10% maintained
No change
8โ€“16%
T-GST 16% maintained; key revenue source
No change
Corporate Tax Rate
Corporate Tax Rate
9โ€“24%
Competitiveness discussions vs global peers
No change
15%
BPT 15% maintained
No change
Capital Gains Tax
Capital Gains Tax
0โ€“45%
Financial income taxation reform continuing
No change
15%
15% via BPT
No change
Social Security & Payroll
Social Security / Payroll
~18.5%
Contribution rates stable; pension reform discussion
No change
~14%
Pension reform; sustainability challenge
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‡ฒ๐Ÿ‡ป Maldives โ€” Island Council Taxes

The Maldives has 188 inhabited islands across 26 atolls administered by island and atoll councils. Councils have limited taxing powers โ€” primarily fees for services. The Maldives Inland Revenue Authority (MIRA) administers all national taxes. Tourism dominates the economy (>60% of GDP via resort islands). The Business Profit Tax (BPT) at 15% and the Tourism Goods and Services Tax (T-GST at 16%) are major revenue sources. No personal income tax exists for residents earning under certain thresholds.

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 Maldives: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea has a higher top income tax rate (6โ€“45% vs 0โ€“15%). ๐Ÿ‡ฒ๐Ÿ‡ป Maldives is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Maldives has a higher consumption tax (10% vs 8โ€“16%).

๐Ÿข Corporate Tax: ๐Ÿ‡ฒ๐Ÿ‡ป Maldives offers a lower corporate rate (15% vs 24%), which can influence business location decisions.

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ฒ๐Ÿ‡ป Maldives taxes investment gains at a lower rate (15% vs 45%), benefiting investors.

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