What is the comprehensive taxation of financial income?

Under the Income Tax Act, if financial income (interest and dividend income combined) is KRW 20 million or less a year and tax has been withheld, the principle is separate taxation, in which taxation is concluded by withholding.

If annual financial income exceeds KRW 20 million, it is combined with other global income such as employment and business income and taxed at progressive rates; this is called the comprehensive taxation of financial income. In that case, you must file a global income tax return the following year, so check on the National Tax Service's Hometax or similar channels.