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Corporate Tax Comparison

South Korea vs Philippines

Compare South Korea and Philippines corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.
Time of Update — South Korea: 4/04/2026 · Philippines: 4/06/2026
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South KoreaFlag of South KoreaSouth Korea
PhilippinesFlag of PhilippinesPhilippines

Basic Corporate Tax Comparison

PwC World Tax SummaryOECD Statistics
Time of Update — South Korea: 4/04/2026 · Philippines: 4/06/2026

Corporate Income Tax (CIT)

Flag of South KoreaSouth Korea
Flag of PhilippinesPhilippines
General CIT Rate:
Progressive: 10% (up to 200M KRW), 20% (200M-20B KRW), 22% (20B-300B KRW), 25% (over 300B KRW)
General CIT Rate:
25%
CIT Return Due Date:
Mid-term tax returns: within two months from the end of the six-month period; annual tax returns: within three months from the end of the fiscal year.
CIT Return Due Date:
Quarterly return: Within 60 days from the close of each of the first three quarters. Annual return: On or before the 15th day of the fourth month following the close of the taxable year.
CIT Payment Due Date:
The submission of the declaration form (instalment payments are allowed in the case of elections).
CIT Payment Due Date:
On the 15th day of the fourth month following the close of the taxable year.
CIT Estimated Payment Due Date:
CIT Estimated Payment Due Date:
Quarterly instalments paid within 60 days after each quarter.

Withholding Tax (WHT)

Flag of South KoreaSouth Korea
Flag of PhilippinesPhilippines
Resident Withholding Tax (Dividend/Interest/Royalty):
Resident Withholding Tax (Dividend/Interest/Royalty):
25/20/25
Non-Resident Withholding Tax (Dividend/Interest/Royalty):
Non-Resident Withholding Tax (Dividend/Interest/Royalty):
25/20/25

Value-Added Tax (VAT)

Flag of South KoreaSouth Korea
Flag of PhilippinesPhilippines
General VAT Rate:
10
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Value-Added Tax (VAT)
General VAT Rate:
12
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Value-Added Tax (VAT)

Capital Gain Tax (CGT)

Flag of South KoreaSouth Korea
Flag of PhilippinesPhilippines
General Capital Gain Tax Rate:
25 (the same as the normal CIT rate for corporations over 300B KRW taxable income)
General Capital Gain Tax Rate:
If the net capital gain is within P100,000, the applicable tax rate is 5%, and the excess is 10%.

Effective Tax Rate (ETR)

Flag of South KoreaSouth Korea
Flag of PhilippinesPhilippines
Composite Effective Average Tax Rate:
24.87%
Composite Effective Average Tax Rate:
Composite Effective Marginal Tax Rate:
22.0%
Composite Effective Marginal Tax Rate:

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