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Korean Job Discussion Forums
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OculisOrbis
Joined: 17 Jul 2006
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 Posted: Wed Feb 09, 2011 8:50 pm Post subject: |
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most deductions are compiled for you. things like cash purchases (if you use the taxsave card), credit card purchases, health expenses, etc...
you have to log in with your Alien number and digital banking certificate, then just click each one to activate them, then print or save as a pdf. (you must use MS Internet Explorer as with most other korean websites)
yesone.co.kr
you can call the english tax help line and they will walk you through it if you have problems. |
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winterfall
Joined: 21 May 2009
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| Posted: Wed Feb 09, 2011 8:56 pm Post subject: |
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| NYC_Gal 2.0 wrote: |
No worries then. I'm saving my hospital documentation, though, as I will be taxed the next time around, and every little bit helps. |
Just curious, why do you use your US card for everything? You must be spending a small fortune on foreign transfer fees every year. Is it worth the bump to your credit score? |
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NYC_Gal 2.0
Joined: 10 Dec 2010
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| Posted: Wed Feb 09, 2011 9:44 pm Post subject: |
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| winterfall wrote: |
| NYC_Gal 2.0 wrote: |
No worries then. I'm saving my hospital documentation, though, as I will be taxed the next time around, and every little bit helps. |
Just curious, why do you use your US card for everything? You must be spending a small fortune on foreign transfer fees every year. Is it worth the bump to your credit score? |
My fees are pretty small, actually. I got lucky. The largest one I had to pay was $36 for a charge of nearly $2,000. Most smaller things are 50 cents or less, and since there's no sales tax here, it doesn't bother me, considering that my credit score keeps improving back home (as you said).
If I had to pay an outrageous fee like some of my friends' cards charge, I'd have signed up for a Korean card ages ago. As it stands, I don't mind spending a bit of change. Also, online banking is much easier with my foreign cards. First, everything is in English, and Firefox compatible. Second, I've got everything tied in with my American bank savings and checking accounts. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Thu Feb 10, 2011 12:23 am Post subject: |
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| NYC_Gal 2.0 wrote: |
| winterfall wrote: |
| NYC_Gal 2.0 wrote: |
No worries then. I'm saving my hospital documentation, though, as I will be taxed the next time around, and every little bit helps. |
Just curious, why do you use your US card for everything? You must be spending a small fortune on foreign transfer fees every year. Is it worth the bump to your credit score? |
My fees are pretty small, actually. I got lucky. The largest one I had to pay was $36 for a charge of nearly $2,000. Most smaller things are 50 cents or less, and since there's no sales tax here, it doesn't bother me, considering that my credit score keeps improving back home (as you said).
If I had to pay an outrageous fee like some of my friends' cards charge, I'd have signed up for a Korean card ages ago. As it stands, I don't mind spending a bit of change. Also, online banking is much easier with my foreign cards. First, everything is in English, and Firefox compatible. Second, I've got everything tied in with my American bank savings and checking accounts. |
If you keep a small fortune in that home bank account, there are no transfer fees. |
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emmahearst
Joined: 10 Jan 2011
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| Posted: Thu Feb 10, 2011 12:39 am Post subject: |
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That's a good chunk of change. 900000 South Korean won = 807.6096 US dollars.
| tokkibunni8 wrote: |
| I paid over 900k for the year hoping to get a good chunk back, but NOPE! A whole whopping 43k back. I called bull**** on that, but what can I do? |
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willteachforfood
Joined: 24 Jan 2011
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| Posted: Thu Feb 10, 2011 12:58 am Post subject: |
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| emmahearst wrote: |
That's a good chunk of change. 900000 South Korean won = 807.6096 US dollars.
| tokkibunni8 wrote: |
| I paid over 900k for the year hoping to get a good chunk back, but NOPE! A whole whopping 43k back. I called bull**** on that, but what can I do? |
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$807 is a good chunk of change for an entire YEAR's worth of taxes? On what planet?
What then would be a reasonable sum for one to pay in taxes annually?
For whatever reason, foreigners get off the hook when it comes to paying taxes here, but surely we must be expected to pitch in a little bit towards paying for the roads we drive on, police that protect us (in theory), and so on. |
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lifeinkorea
Joined: 24 Jan 2009
Location: somewhere in China
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tukmax
Joined: 06 Jul 2010
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| Posted: Thu Feb 10, 2011 9:20 am Post subject: |
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Hey I am a little confused as to what the hell is going on here.
My situation. I'm Canadian. Work in a hagwon. Second year in Korea. I make 2.4 and pay 79,000 won a month in taxes. Will I have to pay more taxes in a lump sum like some people described above?
Also, I spent 2,800,000 on laser hair removal in October 2010 using my Shinhan bank card. I still have the receipt. Is that something I can use to somehow get more tax refund money back? |
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OculisOrbis
Joined: 17 Jul 2006
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| Posted: Thu Feb 10, 2011 3:44 pm Post subject: |
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| tukmax wrote: |
Hey I am a little confused as to what the hell is going on here.
My situation. I'm Canadian. Work in a hagwon. Second year in Korea. I make 2.4 and pay 79,000 won a month in taxes. Will I have to pay more taxes in a lump sum like some people described above?
Also, I spent 2,800,000 on laser hair removal in October 2010 using my Shinhan bank card. I still have the receipt. Is that something I can use to somehow get more tax refund money back? |
| oculisorbis wrote: |
most deductions are compiled for you. things like cash purchases (if you use the taxsave card), credit card purchases, health expenses, etc...
you have to log in with your Alien number and digital banking certificate, then just click each one to activate them, then print or save as a pdf. (you must use MS Internet Explorer as with most other korean websites)
yesone.co.kr
you can call the english tax help line and they will walk you through it if you have problems. |
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Yellowstone_1872
Joined: 12 Nov 2010
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| Posted: Thu Feb 10, 2011 4:55 pm Post subject: |
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| I'm just going to throw out here that no one is getting "raped" on their taxes. It's a stupid and insensitive turn of phrase. That's all. |
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winterfall
Joined: 21 May 2009
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| Posted: Thu Feb 10, 2011 8:41 pm Post subject: |
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| willteachforfood wrote: |
For whatever reason, foreigners get off the hook when it comes to paying taxes here, but surely we must be expected to pitch in a little bit towards paying for the roads we drive on, police that protect us (in theory), and so on. |
They're progressive taxes. No special treatment for foreigners. Unless your talking about the 2 year tax exemption for ps? That's probably just there to stop us all from going to hagwons.  |
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Skyblue
Joined: 02 Mar 2007
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| Posted: Fri Feb 11, 2011 12:26 am Post subject: |
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| willteachforfood wrote: |
| For whatever reason, foreigners get off the hook when it comes to paying taxes here, but surely we must be expected to pitch in a little bit towards paying for the roads we drive on, police that protect us (in theory), and so on. |
Agreed. I can't believe how good it is. If taxes were 25%, though, I wouldn't be here for the same salary. |
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