Utilz
Gift Tax Calculator
Estimate Korean gift tax based on amount and relationship
Why Use This Tool?
- Know the tax before making or receiving a large gift.
- See how relationship-based exemptions reduce your tax.
- Understand the progressive gift tax brackets.
Calculation
Tax Base = Gift Amount - Exemption. Tax rates: 10% up to 100M, 20% up to 500M, 30% up to 1B, 40% up to 3B, 50% above 3B KRW. Exemptions: Spouse 600M, Adult child 50M, Minor child 20M, Others 10M.
How to Use
- Enter the gift amount
- Select the relationship to the donor
- View the tax breakdown with exemption and brackets
FAQ
What are the gift tax exemptions?
Spouse: 600M KRW, Adult child: 50M, Minor child: 20M, Grandchild: 50M (20M if minor), Others: 10M. Exemptions reset every 10 years.
What are the gift tax rates?
10% for up to 100M KRW, 20% up to 500M, 30% up to 1B, 40% up to 3B, and 50% above 3B. Progressive deductions are applied.
How often do gift tax exemptions reset?
Gift tax exemptions in Korea reset every 10 years. You can receive gifts up to the exemption amount from the same person tax-free once every decade.