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South Korea vs Norway
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‡ณ๐Ÿ‡ด Norway
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
22โ€“47.4%
Income thresholds rising with wage growth
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
10%
Standard 10% maintained
No change
12โ€“25%
Standard 25% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
9โ€“24%
Competitiveness discussions vs global peers
No change
22%
Resource rent taxes stable; critical minerals review
No change
Capital Gains Tax
Capital Gains Tax
0โ€“45%
Financial income taxation reform continuing
No change
37.84%
High dividend tax fuels holding co. debate
No change
Social Security & Payroll
Social Security / Payroll
~18.5%
Contribution rates stable; pension reform discussion
No change
~19.1%
Stable; labour market tight
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‡ณ๐Ÿ‡ด Norway โ€” Municipal Taxes & Resource Rent

Norway's 15 counties and 356 municipalities set local income tax within a national band; max combined rate ~22%. Norway has unique resource rent taxes on petroleum (78%) and hydropower (67% from 2024). Wealth tax (formuesskatt) applies at 1%โ€“1.1% on net assets above NOK 1.7M. Dividends above a risk-free return are taxed at ~37.84% effective.

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 Norway: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ณ๐Ÿ‡ด Norway has a higher top income tax rate (6โ€“45% vs 22โ€“47.4%). ๐Ÿ‡ฐ๐Ÿ‡ท South Korea is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Norway has a higher consumption tax (10% vs 12โ€“25%).

๐Ÿข Corporate Tax: ๐Ÿ‡ณ๐Ÿ‡ด Norway offers a lower corporate rate (22% vs 24%), which can influence business location decisions.

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ณ๐Ÿ‡ด Norway taxes investment gains at a lower rate (37.84% vs 45%), benefiting investors.

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