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Darkness
Joined: 12 Oct 2006
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 Posted: Fri Jan 12, 2007 8:55 am Post subject: Issue with Taxes |
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Ok, so according to the website www.nts.go.kr it says I should be getting taxed W39,800.
So I made a note today that stated what my salary was, what my tax SHOULD be, with website reference, plus what I SHOULD have taken off for Health and Pension.
Last month I was tax W72,600, but I dont have health and I didnt pay into pension. On my envelope of cash it just said tax 3.3% W72,600.
I really dont care about paying for health and pension, I know I get my taxes back, and I also know it would be a good idea to have health.
Anyway my boss said he has an accounting (bullshit), and he was told to take 3.3% off. So I gave him the paper and told him to talk it over with his accountant over the weekend. I also made a note that they owe me W 32,800 for the mis-calcualtion last month.
lol...Any ideas how this will pan out for me?? |
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gmat
Joined: 29 Jan 2003
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| Posted: Fri Jan 12, 2007 9:06 am Post subject: |
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| Darkness, he is paying in cash so I am 99% sure that your taxes are going in his back pocket, not to the Korean government. BTW, how many teachers are at your school? |
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J.B. Clamence
Joined: 15 Jan 2003
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| Posted: Fri Jan 12, 2007 9:16 am Post subject: |
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| gmat wrote: |
| Darkness, he is paying in cash so I am 99% sure that your taxes are going in his back pocket |
Yep, especially if he is not paying pension or health. It sounds like you are off the books. Also, pension and health are the two things you would know if you had, so it's not easy for the boss to pocket those payments. As for the tax, he can easily pocket that without your knowledge. Hakwon owners are scumbags. |
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Darkness
Joined: 12 Oct 2006
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| Posted: Fri Jan 12, 2007 6:39 pm Post subject: |
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I'm the only english teacher, but there are maybe 2 - 4 other teachers I'm not really sure. There is some guy that always wears a tie and stuff, but when I asked he's the janitor 
I dont know....but there is one other english speaking Korean teacher at the school.
So he is pocketing it, I thought so. I want to make sure I get my tax's back when I leave, and I only want to pay W39,800
I'll blow a gasket if he tries to jerk me around..... |
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J.B. Clamence
Joined: 15 Jan 2003
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| Posted: Fri Jan 12, 2007 6:49 pm Post subject: |
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| How do you get your taxes back when you leave? |
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Big Mac
Joined: 17 Sep 2005
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| Posted: Fri Jan 12, 2007 6:56 pm Post subject: |
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If you're from Canada or the United States, you should care about paying into pension. Your employer matches the amount you pay (4.5 per cent) and you can get all of that money back when you leave Korea. So you're basically throwing over a million won down the toilet by not caring about it. Plus, you're missing out on a pretty good health plan too.
I never got a tax refund...and even if I did, I doubt it would be anywhere near what I would get from a pension refund. |
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Darkness
Joined: 12 Oct 2006
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| Posted: Fri Jan 12, 2007 7:15 pm Post subject: |
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Being from Canada, I thought I was allowed to get all my taxes back when I go home?
A pretty good health plan, maybe, but I'd rather have money in my pocket. |
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Big Mac
Joined: 17 Sep 2005
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| Posted: Fri Jan 12, 2007 7:51 pm Post subject: |
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| Darkness wrote: |
Being from Canada, I thought I was allowed to get all my taxes back when I go home?
A pretty good health plan, maybe, but I'd rather have money in my pocket. |
Perhaps what you heard was that you get all your pension money back when you go home. I'm sure you can apply for a tax refund, and I have heard of some people (particularly those at public schools) getting tax refunds. I don't think the refund would be very significant though...certainly not on the scale of the pension refund. I don't think you would get ALL your tax money back either. After all, you are using some Korean government services while you are here, and therefore should pay the government something.
You might lose a lot of money from your pocket if you ever get sick without health coverage. The plan is really good. If I have to visit a doctor, all I pay is 3,000 Won. It also covers prescription drugs. I picked up some medication the other day and it cost me 1,500 Won. Since you are working with kids, you are bound to get sick while you are here and will most likely have to visit a doctor. Furthermore, the health coverage is mandatory in Korea...so your boss is breaking the law by not providing you with it. |
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J.B. Clamence
Joined: 15 Jan 2003
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| Posted: Fri Jan 12, 2007 8:53 pm Post subject: |
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| Big Mac wrote: |
| I'm sure you can apply for a tax refund, and I have heard of some people (particularly those at public schools) getting tax refunds. I don't think the refund would be very significant though...certainly not on the scale of the pension refund. I don't think you would get ALL your tax money back either. |
This has always been my understanding as well. You can get certain partial tax refunds for special things such as car insurance payments and dependents (wife and kids, etc.). As far a 100% tax refund just because you're from a certain country, well, I wouldn't be so bold as to tell the OP that he is wrong because I don't have all the facts, but I suspect he is. I would double-check on that. Maybe try the efl-law site. |
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dam_on
Joined: 12 Dec 2006
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| Posted: Sat Jan 13, 2007 12:16 am Post subject: |
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| Quote: |
| I never got a tax refund...and even if I did, I doubt it would be anywhere near what I would get from a pension refund. |
You DO get your taxes back but only if you fill out the tax form and send it in. I was lucky as my last two employers took care of providing teachers with forms and sending them in. Last year of the 9 months I worked..I got back W550,000...so it is a nice chunk of change.
*note I also have been told that your refund depends on how much of the tax year your were working and paying into the system...so if you started in Aug. your refund would be different than if you started back in Feb. for example... makes sense. |
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Darkness
Joined: 12 Oct 2006
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| Posted: Sat Jan 13, 2007 7:26 pm Post subject: |
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Well I gave my boss with a complete write up about what I SHOULD be paying as far as taxes, health (4.21%/2), and pension (9%/2).
I also told him about what I was taxed last month, and what I SHOULD have been taxed, and what they owe me.
So I let him sit on it for the weekend, we'll see how it pans on out monday! |
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Darkness
Joined: 12 Oct 2006
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| Posted: Mon Jan 15, 2007 12:22 am Post subject: |
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WTF!!!
Ok so I was told there are two different taxes, one is a business tax (3.3%) and the other is Labour Tax. The labour tax is much higher because it includes health, pension, unemployment and some sort of a work place disaster tax.
So they are going to take off 3.3%, they said in Jan is when they pay the rest of the taxes or some shat, so I guess next jan is when I am suppose to pay tax or something, I have no idea.
I'm so freakin confused about this.... |
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daz1979
Joined: 29 Apr 2006
Location: Gangwon-Do
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| Posted: Mon Jan 15, 2007 5:35 am Post subject: |
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| Darkness wrote: |
WTF!!!
Ok so I was told there are two different taxes, one is a business tax (3.3%) and the other is Labour Tax. The labour tax is much higher because it includes health, pension, unemployment and some sort of a work place disaster tax.
So they are going to take off 3.3%, they said in Jan is when they pay the rest of the taxes or some shat, so I guess next jan is when I am suppose to pay tax or something, I have no idea.
I'm so freakin confused about this.... |
I think it's easy to be confused, it's so frustrating!
After a lengthy MSN discussion with a director in Korea he states that if I do not want to be a part of a pension fund I am automatically taxed at a higher rate, and with this in mind would be charged a rate of 3.3% + 10% of 3.3% as residence tax (3.63) and 2.4% medical!!
Therefore on 2.1 mil:
76,230 for tax
50,400 medical
With no further deductions!
Is this true, or is someone else playing guess the figures? |
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Darkness
Joined: 12 Oct 2006
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| Posted: Mon Jan 15, 2007 5:45 am Post subject: |
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My salary is 2.2 and I'm getting taxed 76,800, with NO medical.
This taxing system here is F'D!!! With no one being honest, I feel like I'm gettin takin.
Daz, that doesnt sound right to me, but I cant even figure out my own problems!! Sorry!
How do you file tax, so that I can receive some of what I've paid back? |
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Rteacher
Joined: 23 May 2005
Location: Western MA, USA
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| Posted: Mon Jan 15, 2007 6:12 am Post subject: |
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When ordered to do my "Year-end Settlement of 2006 Taxes", I interpreted the written instructions as stating that as an American citizen (non-resident of Korea...) working at a "government recognized" school (no hogwans...) I could claim exemption from tax. When I inquired from the Foreign Taxpayer Help-line (02-397-1440) however, I was told that most foreign teachers (even at public schools) didn't qualify for tax exemption - only relatively few teachers, mostly at universities, who worked on special government projects (or something like that ...)
I was never asked to complete a tax form my first year at this school. I didn't think it was necessary since taxes were automatically deducted from my monthly salary. But, taxes were not deducted for my overtime pay so I owed taxes for that - unless I could list enough deductions (with receipts) for things like medical expenses ...
I also was told by the Korean teacher assigned to help me that I should list all my Korean credit card total expenditures... Anyway, I just signed my name and ARC number in a bunch of places and gave the Korean teacher all my medical receipts and final credit card statement, and she completed the rather complicated forms...
Here's the website for Q & A Foreign Taxpayer Advocate:
www.nts.go.kr/eng |
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