South Korea vs Bermuda
Corporate Tax Comparison
Time of Update: South Korea: 4/04/2026 / Bermuda: 3/24/2026
Compare South Korea and Bermuda corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.
South Korea vs Bermuda Corporate Tax Comparison
Basic Corporate Tax Comparison
Corporate Income Tax (CIT)
South Korea
Bermuda
General CIT Rate:
Progressive: 10% (up to 200M KRW), 20% (200M-20B KRW), 22% (20B-300B KRW), 25% (over 300B KRW)
General CIT Rate:
15% (if subject to Bermuda CIT) or 0%.
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:
If subject to Bermuda CIT, tax returns are proposed to be due by the 15th day of the 10th month following the fiscal year-end.
CIT Payment Due Date:
The submission of the declaration form (instalment payments are allowed in the case of elections).
CIT Payment Due Date:
Upon filing the CIT return (if applicable), a 'true-up' payment considering previous estimated payments must be made no later than the due date of the return, regardless of when the return is filed.
CIT Estimated Payment Due Date:
N/A
CIT Estimated Payment Due Date:
Taxes are paid in instalments.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
Withholding Tax (WHT)
South Korea
Bermuda
Resident Withholding Tax (Dividend/Interest/Royalty):
Resident Withholding Tax (Dividend/Interest/Royalty):
0
None-Resident Withholding Tax (Dividend/Interest/Royalty):
None-Resident Withholding Tax (Dividend/Interest/Royalty):
0
Value-Added Tax (VAT)
Capital Gain Tax (CGT)
South Korea
Bermuda
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:
There is no VAT or sales tax in Bermuda.
Effective Tax Rate (ETR)
South Korea
Bermuda
Composite Effective Average Tax Rate:
24.87%
Composite Effective Average Tax Rate:
0
Composite Effective Marginal Tax Rate:
22.0%
Composite Effective Marginal Tax Rate:
0
