South Korea Dividend Withholding Tax
Complete guide for international investors — rates, reclaim deadlines, and which forms to file.
Last updated 2026-09-27
South Korea withholds 22.0% on dividends paid to non-resident investors. If you live in a country with a tax treaty, you can reclaim the difference between that rate and typically 10% — up to 12.0 percentage points — by filing a refund claim with the National Tax Service (국세청) within 5 years.
About South Korea's Withholding Tax
South Korea's 22% non-treaty dividend and interest withholding rate is composite — 20% national tax (소득세법 §156) plus a 10% local income surtax (지방세법 §89) levied on that tax, 20% x 1.10 = 22%. Since 1 January 2024, the Foreign Omnibus Account regime (소득세법 §119의4) has forbidden relief at source for investors holding Korean securities through a foreign omnibus account — the norm for most non-resident retail holders — and requires the withholding agent to withhold the full 22% regardless of any tax treaty, forcing every treaty benefit into a post-payment correction claim instead of prevention up front. Korea genuinely publishes a claimant-fileable post-payment refund form (Form No. 29-14, 제한세율 적용을 위한 경정청구서), and the beneficial owner may file it directly rather than through the payer — Tax Reclaim generates Form 29-14 for you to file directly — the withholding agent's own identifiers and the 지급명세서 payment statement are the one part only your broker can supply; the guide below explains what to ask for. The correction claim itself runs 5 years from the 11th day of the month after the tax was withheld.
Available Forms
The post-payment correction claim filed with the competent district tax office for the difference between Korea's 22% composite withholding rate and your treaty rate.
Deadline: 5 years
Reclaim by Investor Residence Country
How much investors from each country can reclaim from South Korea's 22.0% withholding tax. Click your residence country for a detailed guide.
| Your residence country | Standard WHT | Treaty rate | Reclaimable | |
|---|---|---|---|---|
| 🇵🇱Poland | 22.0% | 10% | 12.0% | |
| 🇬🇧United Kingdom | 22.0% | 15% | 7.0% | |
| 🇩🇪Germany | 22.0% | 15% | 7.0% | |
| 🇫🇷France | 22.0% | 15% | 7.0% | |
| 🇪🇸Spain | 22.0% | 15% | 7.0% | |
| 🇳🇱Netherlands | 22.0% | 15% | 7.0% | |
| 🇧🇪Belgium | 22.0% | 15% | 7.0% | |
| 🇨🇭Switzerland | 22.0% | 15% | 7.0% | |
| 🇮🇹Italy | 22.0% | 15% | 7.0% | |
| 🇸🇪Sweden | 22.0% | 15% | 7.0% | |
| 🇳🇴Norway | 22.0% | 15% | 7.0% | |
| 🇩🇰Denmark | 22.0% | 15% | 7.0% | |
| 🇫🇮Finland | 22.0% | 15% | 7.0% | |
| 🇦🇹Austria | 22.0% | 15% | 7.0% | |
| 🇵🇹Portugal | 22.0% | 15% | 7.0% | |
| 🇮🇪Ireland | 22.0% | 15% | 7.0% | |
| 🇱🇺Luxembourg | 22.0% | 15% | 7.0% | |
| 🇦🇺Australia | 22.0% | 15% | 7.0% | |
| 🇨🇦Canada | 22.0% | 15% | 7.0% | |
| 🇸🇬Singapore | 22.0% | 15% | 7.0% | |
| 🇯🇵Japan | 22.0% | 15% | 7.0% | |
| 🇺🇸United States | 22.0% | 16.5% ‡ | 5.5% |
* Treaty rates shown are standard DTT dividend rates. Lower rates may apply to substantial shareholdings. Consult your tax advisor for your specific situation.
‡ Includes South Korea's 10% local income tax, which is charged on top of the treaty rate because that treaty does not cover it.
How to reclaim South Korea withholding tax
- 1
Confirm the tax withheld
Check your dividend voucher or broker statement — South Korea should show 22.0% withheld at source.
- 2
Get a certificate of tax residence
Request a certificate of tax residence from your home country's tax authority for the year the dividend was paid.
- 3
Complete Form 29-14
Fill in the South Korea reclaim form with your dividend amounts and the tax withheld.
- 4
Submit before the deadline
File your claim with the National Tax Service (국세청) within 5 years.
Frequently asked questions
How much South Korea dividend withholding tax can I reclaim?
South Korea withholds 22.0%. Investors resident in tax-treaty countries can usually reclaim down to typically 10% — up to 12.0 percentage points. Your exact treaty rate depends on your country of residence.
What is the deadline to reclaim South Korea withholding tax?
5 years, counted (in most cases) from the end of the year the dividend was paid. After the deadline the claim is time-barred and the overpaid tax cannot be recovered.
Which form do I use to reclaim South Korea withholding tax?
Form 29-14 — The post-payment correction claim filed with the competent district tax office for the difference between Korea's 22% composite withholding rate and your treaty rate.. It is submitted to the National Tax Service (국세청).
Do I need a certificate of tax residence?
Yes. Most tax authorities require a certificate of tax residence from your home country to grant the reduced treaty rate on a withholding tax reclaim.
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