• Type: Publication series
  • Date: 10/2/2013

South Korea – Limitations on Flat Tax Rate Election; Hotel VAT Refunds for Foreign Travelers 

KPMG Samjong Tax in South Korea reports on two measures in the tax law revision bill, currently undergoing review in the National Assembly, that could affect individuals, including those on international assignment, and their multinational employers. The election for the flat tax rate of 18.7 percent (including local surtax) by foreign workers is to be limited to five years starting from their commencing employment/assignment in South Korea. (There is no limit to the election for the flat tax rate under the existing rules.) And value added taxes on room rates for up to 30 nights stay at eligible hotels, paid by foreign travelers, are to be refundable until December 31, 2014.


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