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back to index backGLOBALtalk March,  2016


South Korea: Non-resident foreign employees on assignment

Starting 1 July, non-resident foreign employees on assignment to work for large South Korean companies will become subject to tax withholding on their South Korean income at the same rate as resident foreign employees, 17%. These employees were previously taxed on income declared, without withholding.

The new withholding requirement applies to large South Korean companies paying a total of more than 3 billion won (US$2.6 million) to nonresident foreign employers of dispatched professionals annually. Large South Korean companies are defined as those with annual sales of at least 150 billion won (US$128 million) or total assets worth at least 500 billion won (US$428 million).

Source: Mercer - GAI





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