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Tax rate
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Grotto



Joined: 21 Mar 2004

PostPosted: Sat May 14, 2005 1:10 am    Post subject: Tax rate Reply with quote

Some time ago there was a link to the tax rate here in Korea.

Can anyone give me the link again? Thanks.

Hey Mods why dont we make this a sticky?

MOL http://english.molab.go.kr/

has been changed to

http://www.nta.go.kr/menu/users/ntseng/Tax_Guide1.htm

another important contact

http://wiki.galbijim.com/Labor_Standards_Act

or

http://www.ilo.org/dyn/natlex/docs/WEBTEXT/46401/65062/E97KOR01.htm

For information on employment permit system and employment of migrant workers, please contact Foreign Worforce policy division.
Tel : 02-2110-7080~7081
Fax : 02-502-6855
Email : epd01@chol.com


Last edited by Grotto on Sat Sep 09, 2006 6:01 pm; edited 4 times in total
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thaitom



Joined: 08 Feb 2003
Location: Phopphra, Thailand

PostPosted: Sat May 14, 2005 1:38 am    Post subject: Reply with quote

Is this the one your looking for?


http://www.nts.go.kr/eng/default.html
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jajdude



Joined: 18 Jan 2003

PostPosted: Wed Aug 10, 2005 10:48 pm    Post subject: Reply with quote

I tried to find how out (the percentage) much the boss should take from the pay. I think Grotto has stated it before. Can some please inform and if possible provide a link. Also, who can be contacted to verify this?

(I think a foreign co-worker and I may be getting ripped off.)
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Grotto



Joined: 21 Mar 2004

PostPosted: Sat Jan 21, 2006 1:16 am    Post subject: Reply with quote

Tax office(thanks to Peppermint)

http://www.nta.go.kr/eng/default.html

They also have an English hotline The number is 02-397-1440

for all your firsthand information.
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johndoe



Joined: 29 Jun 2005

PostPosted: Sun Jan 29, 2006 2:27 pm    Post subject: . Reply with quote

Should 3.3%
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Grotto



Joined: 21 Mar 2004

PostPosted: Sun Jan 29, 2006 3:21 pm    Post subject: Reply with quote

There is no set rate for income tax...it all depends on what you are making...a salary of 2 mil for example is about 1.4x% or 28,950Won

If you are stupid enough to pay 3.3% and give your boss 66,000Won then you are overpaying almost 37,000Won a month X12=440,000 won an year. Money I highly doubt is making it into the pocket of the tax man!
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RickFlair



Joined: 21 May 2003

PostPosted: Sun Jun 18, 2006 4:47 am    Post subject: Summer Camp Tax Rate? Reply with quote

I've been lurking on this board for a few years. I've read the FAQ and stickies until I'm blue in the face but still can't find an answer. I tried pming one of the board experts but I guess he's on vacation.

I signed up for a summer camp and received the following from the director:

"Tax law has changed; we will have to deduct 20 to 22 % (I do not know
the precise figure) of your salary as tax."

and now today:

"Bad news, tax to be deducted 27.5 %."

Your opinion? Is it legal?

Thanks for responding.
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AliNZ



Joined: 11 Feb 2003

PostPosted: Thu Jun 29, 2006 2:16 pm    Post subject: Reply with quote

Laughing

you need to ask??
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Roch



Joined: 24 Apr 2003
Location: Seoul

PostPosted: Wed Aug 09, 2006 8:30 am    Post subject: Reply with quote

Grotto wrote:
Tax office(thanks to Peppermint)

http://www.nta.go.kr/eng/default.html

They also have an English hotline The number is 02-397-1440

for all your firsthand information.



I entered my earnings and received nothing but non-intelligible symbols of some sort with the number 950,000 clearly visible amongst them.
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Grotto



Joined: 21 Mar 2004

PostPosted: Wed Aug 09, 2006 9:09 am    Post subject: Reply with quote

you do enter the numbers in thousands...so 2 mil is 2000....if you entered in 2,000,000 you just told the computer you earned 2 bil!
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Roch



Joined: 24 Apr 2003
Location: Seoul

PostPosted: Wed Aug 09, 2006 9:14 am    Post subject: Reply with quote

Grotto wrote:
you do enter the numbers in thousands...so 2 mil is 2000....if you entered in 2,000,000 you just told the computer you earned 2 bil!


I typed 2000. Strange, eh?
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Roch



Joined: 24 Apr 2003
Location: Seoul

PostPosted: Wed Aug 09, 2006 9:23 am    Post subject: Reply with quote

Roch wrote:
Grotto wrote:
you do enter the numbers in thousands...so 2 mil is 2000....if you entered in 2,000,000 you just told the computer you earned 2 bil!


I typed 2000. Strange, eh?


I added a comma. My mistake.
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jadles



Joined: 09 Mar 2006

PostPosted: Sun Sep 03, 2006 8:51 pm    Post subject: Reply with quote

Guys

Thanks SOOO much for your posts! I have just started my job here (new to Korea) and am getting my first pay tomorrow. After reading these posts I thought I'd check how much I was going to be taxed. Boss said 3.3% so I rang up the tax office and as you said it should be WAY less!

THANKS SOO MUCH!! Now I've got to battle the boss!

Smile Jade
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RnH



Joined: 02 Aug 2006
Location: Korea

PostPosted: Wed Sep 06, 2006 3:55 am    Post subject: Wonderland again! Reply with quote

We are currently paying 3.3% tax..we have read the advice on the forum, and we know that we should be paying less..so should we confront our boss? How do we get proof to make her pay us all the money we've lost in tax??
PS Jadles..how did your situation turn out?
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Wed Sep 06, 2006 4:40 am    Post subject: Re: Wonderland again! Reply with quote

RnH wrote:
We are currently paying 3.3% tax..we have read the advice on the forum, and we know that we should be paying less..so should we confront our boss? How do we get proof to make her pay us all the money we've lost in tax??
PS Jadles..how did your situation turn out?


http://www.nts.go.kr/front/eng/faqs_qna/qna_list.asp

File a complaint or take it up the butt - pick one.
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