Korean Job Discussion Forums

[Capo]

In the UK we have a system where foreign nationals are allowed to claim back the Value Added Tax (VAT) on goods they have baught when they leave the country if they keep their receipts. Does anyone know if there is a similar system here in Korea and what paper work, records etc. need to be kept?

[Milwaukiedave]

Capo,

Yes there is, but from my understanding you have to purchase items with your credit card to get that money back. Given the fact most non-Koreans have a difficult time getting a credit card, the chances are slim to none you'll get the money back.

My advice is (since it's late in the year) if you are interested in getting that money back look into getting a credit card and try to do it next year. Some banks will give secured credit cards (meaning your credit limit is based on what you have in your account with them). I'm sure there are some foreigners that have unsecured cards, but the chances of getting one these days are nil due to different banks interpreting the rules in various ways.

I'm working on getting a card through KEB now that my job situation has changed. You can go into a branch and ask them about it. I'd give you more advice on that, but I have no idea what your situation is.

[ttompatz]