Freelancer's First May: What the 3.3% Withholding Really Means

Freelancers in Korea have 3.3% withheld from each payment (3% income tax + 0.3% local tax). But this is just a prepayment -- the actual tax bill is settled in May through the Comprehensive Income Tax filing. This scenario explains how progressive rates (6-45%) apply to total annual income after necessary expenses, and how VAT obligations differ between general and simplified taxpayers.