About this tool
This simple calculator estimates your Korean year-end tax settlement for the 2026 tax year, which is settled in January and February 2027.
It reflects only the main items: the earned income deduction, 1.5 million KRW per person basic deduction, protection-type insurance premiums, the credit and debit card deduction, the earned income tax credit, the child tax credit, the rent credit and the medical expense credit.
Card spending above 25% of salary is deductible at 15% for credit cards, 30% for debit cards and cash receipts, and 40% for traditional markets and public transport, within a limit of 3 million KRW for salary up to 70 million (2.5 million above).
From 2026 spending the base limit is raised for families with children, which is based on the government announcement, so check the final law.
For example, a salary of 40 million KRW with 2 million in four major insurance premiums, 10 million in credit card and 5 million in debit card spending gives a determined tax of 1,618,500 KRW, so with 1,800,000 KRW already withheld the refund is about 199,650 KRW including local tax.
This is a simplified calculation: protection-type insurance premiums, education, donations, pension savings, culture spending, the marriage credit and the standard tax credit are not included.
It is an estimate for reference only, not provided or verified by the National Tax Service, and it does not replace advice from a tax professional, so use the Hometax year-end settlement service for the real figure.
How to use
- Enter your total salary and the income tax already withheld this year.
- Choose dependents and children, and enter your insurance premiums.
- Enter card, market and transit spending, and optional rent and medical costs.
- Read the estimated refund, then check the real figure on the Hometax year-end service.