Important South Korean Tax Reporting Requirements Coming Due
● Filing frequency of Simplified Withholding Tax Statement changed from semi-annual basis to monthly basis (effective from earned incomes paid in January 2026)
Beginning with salary and wage income paid in January 2026, the filing frequency of the Simplified Withholding Tax Statement will change from a semi-annual basis to a monthly basis under Article 164-3 of the amended Individual Income Tax Law (IITL) of Korea. This reporting obligation is separate from the year-end declaration requirements, and the filing deadline is the last day of the month following the month in which the income is paid.
Accordingly, the Simplified Withholding Tax Statement for salary and wage payments made during the second half of 2025 shall be filed by January 31, 2026, as originally scheduled. However, the Simplified Withholding Tax Statement for salary and wage payments made in January 2026 shall be filed by February 28, 2026. Please note that a penalty may be imposed for non-filing, late-filing or incorrect filing.
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Before |
From Jan 1, 2026 and after |
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n Simplified Half-Year Withholding Tax Statement • Submission frequency: semi-annual basis
• Filing schedules before the change: (1) For the first six-month period ending June 30: by July 31 of the current year (2) For the second six-month period ending December 31: by January 31 of the following year
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n Simplified Monthly Withholding Tax Statement • Submission frequency: monthly basis
• Upcoming filing schedules after the change: (1) For salary and wage payments made during the second half of 2025: by January 31, 2026 (2) For salary and wage payments made during January 2026: by February 28, 2026
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