“Income Tax Calculator” was created based on the simplified income tax table revised on February 29, 2024.
The calculation results of the program are for reference only and may differ from the actual tax collected.
- The monthly salary amount excludes non-taxable income.
- “Number of dependents (including the principal)” refers to the number of dependents eligible for basic deduction, including the principal.
- “Number of children under 20 years of age” refers to the number of children aged 8 to 20 who are eligible for basic deduction.
- If your annual income exceeds 1 million won, you are excluded from basic deduction.
Even if the child is between 8 and 20 years old, if the annual income exceeds 1 million won, the child is excluded from the number of children.
* Workers can choose between 80%, 100%, and 120% of the tax amount according to the simplified earned income tax table as the withholding tax amount.
(An ‘Income Tax Withholding Tax Adjustment Application Form’ must be submitted to the withholding agent.)