Korean Job Discussion Forums

[Alphabet_Stew]

The government has now made an abolition of a preferential 30 percent income tax exemption, which foreigners now have to pay.

http://www.koreatimes.co.kr/www/news/biz/2010/12/123_78859.html

[bobbybigfoot]

If Korea jacks up the taxes we pay, they are going to find a lot of teachers leaving. Including me.

[Vagabundo]

http://www.koreatimes.co.kr/www/news/biz/2010/12/126_78395.html

[Zutronius]

[Vagabundo]

I dunno, email the author of the article. Perhaps he simply forgot about Canada (that would be my assumption)


public school teachers will know the answer soon enough, since the schools deduct relevant taxes from our paychecks.

I'd say 15% flat tax plus another 15% lost because of crap Korean currency would mean the likelihood of me sticking around for another year or more would drop precipitously.

[Zutronius]

I'm out of here in June after three year of seeing the Won tumble. Losing even more money to taxes would be pouring salt onto the wound.

[Alphabet_Stew]

[cragesmure]

Why in the world would it be any different for Canadians? Anyway, Canadians get twice the time on a tourist visa than we do. Might see a sharp rise in the number of Canadians working illegally. That'll show them.

[Crockpot2001]

Free economic Zones are looking hard to find foreign investment sources. With these investments they want the companies to set up Korean facilities where locals are eventually employed. The rub will be that none of these companies would fathom just sending some money over and not including a healthy number of established staff to manage for several years.

If I understand that the tax burden is increasing for foreign workers this might mean foreign investment could drop and an area like Songdo in Incheon could suffer further setbacks.

[Alphabet_Stew]

[Joe Boxer]

[T-J]

[T-J]

I should also emphasize that this change took place at the beginning of the year. So if you are just now finding out about it, that is to say there has not been a change in your withholdings this year, you will probably be surprised to have a bill at the end of this year as your employer has not been withholding enough to cover your liability.

Happy New Year!

[Alphabet_Stew]

[T-J]

You're quoting out of context with regard to some teachers still being eligible for exemption. The quote was about the 100% exemption for teachers.