Korean Job Discussion Forums

[Knucklehead]

My boss wants me to open a 2nd bank account. It will be for him. He says it's for tax purposes - since he pays my tax he needs another account - but I'm pretty sure that's a lie. I've worked here for 3 years and never needed another account.

Why does he really want it? And if I did open it what could be the negative consequences for me?

I enjoy a good relationship with him, but I got a bad feeling about this.

thoughts?

[tardisrider]

You would be an absolute fool to do this.

[Otherside]

Your boss is correct, it is for tax purposes. All money deposited into that account will be income in YOUR name, and you'll be liable for the taxes.

[kprrok]

Question, would you ever do this back in your home country? If no, why would you consider doing it here? If yes, can I be your boss?

Here's what you should do...

1.) Open the account, give the info to your boss, then go directly to the bank and change the PIN and everything. This means your boss "has" your account, but can't use it.

You get to keep all the money (probably millions) that your boss collects, but he thinks he's taking YOU for the ride. This option will only work until he tries to get the money out and will undoubtedly anger him and make things bad between you.

or

2.) Tell him to fark off.

[oskinny1]

Do not open an account in your name then give the ATM card and passwords to your boss. Like Otherside said, the school will deposit the money (x) into your account as pay to you. The boss will then take most of the money out (y) and put it into his or another secret account.

What the tax office sees is that you were paid x amount and be taxed for it even though you really only get x-y. This is illegal and you're the one who gets screwed.

I would be curious to hear what your boss says when/if you ask him about this.

[cj1976]

Your boss has been reading from The Hagwon Owner's Guide to Taking Advantage of Your Pet Waygookin..
I've heard about this many times before, and it never works out well for the easily-replaceable foreigner.

[Louis VI]

Cunning!

[cdninkorea]

In all fairness, it's likely that he'll cover the taxes on the whole amount, but adding it to his reported income would make the amount much higher- income taxes are very low at lower incomes in Korea, but spike dramatically over a certain amount. I'm not saying I'd do it or be comfortable doing it, but it seems likely that it's a ploy to scam the government, not you. Still, you'd be responsible for it since it's legally yours, so...

[cj1976]

You could lay the cards on the table and ask for a cut, in return for keeping quiet. 10% of whatever he deposits sounds fair.

[Italy37612]

Don't do it.

[louiloui]

Just say no!

[Alphabet_Stew]

[TheUrbanMyth]

[Ramen]

Just do it!!!!

Take the money and run.

[Murakano]

It's an afterschool, right OP? I guess Win Education/EduUp...they have a well known reputation for this.

Complete scam.....you might have a good relationship with him as you say but he will screw you