Korean Job Discussion Forums

[Positive Realist]

So with all the new tax info. and such I don't know if the proper amount is being deducted from my pay, I thought it was suppose to be around 10% but it's more like 14%. For anyone who makes 2.2 or anyone else who has been here long enough to know what's what, can you please take a look.

Taxes: 72,600
Medical: 52,470
Pension: 98,550

Thanks in advance.

[tzechuk]

Your tax is a bit high, but your medical and pension look right.

[oldfatfarang]

Your tax is too high. It should be around 34,420 (income) & 3,440 Resident) won per month. You can check the exact figure for 2.2 mil on the Korean National Tax Office website.

[freethought]

tax is a bit high as is your medical.

[mrsquirrel]

How much should medical be then?

[ED209]

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

Click on check your monthly withholding tax(it hasn't been updated yet with the new tax rate though!)

Medical on 2m was 47,700, Pension 88,650, Income Tax 33,620

[mrsquirrel]

Where?

[mrsquirrel]

Does it include the 100,000 up country bonus as well?

[mrsquirrel]

Do I get the spouse deduction since my missus doesn't earn out here?

What about her family in Thailand. We pay for them as well can I deduct for them?

I've asked about the deductions on here several times and nobody has pointed me towards the website yet.

[alabamaman]

Simplified Tax Withholding Table

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

1) Click on Resources
2) Click on Publications
3) Click on 18 Simplified Tax Withholding Table (Feb, 2007)

Download Excel Viewer to view the Simplified Tax Withholding Table

http://www.microsoft.com/downloads/thankyou.aspx?familyId=c8378bf4-996c-4569-b547-75edbd03aaf0&displayLang=en

[Missile Command Kid]

Um... my pension's only been around 44,000 @2.5M/month. Are you sure you guys aren't contributing your employer's half too? (Anywhere you can check this online?)

[Novernae]

[jajdude]

[ilovebdt]