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Ltisme
Joined: 21 Sep 2009
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Posted: Mon Aug 23, 2010 3:59 pm Post subject: Should severance be taxed? |
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Hi, I'm on my way out and have a quick question. I'm from the US, and therefore have been exempt from Korean taxes this year. None of my paychecks have had income tax deducted. However, when I received the pay receipt from my severance, there was a deduction for income tax. Does the severance pay somehow not fall under the tax treaty in the same way that the rest of my salary does?
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NYC_Gal

Joined: 08 Dec 2009
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Posted: Mon Aug 23, 2010 4:40 pm Post subject: |
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It's between 50 and 70 thousand won. It isn't exempt, but it's negligible. |
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Ltisme
Joined: 21 Sep 2009
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Posted: Mon Aug 23, 2010 5:02 pm Post subject: |
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Okay. Thanks for clearing that up. |
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NYC_Gal

Joined: 08 Dec 2009
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Posted: Mon Aug 23, 2010 5:09 pm Post subject: |
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Glad I could be of service. |
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