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Almost 900,000 won deducted from paycheck for taxes in Feb.
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wings



Joined: 09 Nov 2006

PostPosted: Tue Mar 04, 2014 12:36 am    Post subject: Reply with quote

Even if you use a debit card you still have to get the print out from the bank and submit it at tax time. The same is true if you use cash with your registered number. It' not automatic. Also the deductions only start after you spend a certain amount of your income. I was told my my accountant that you get a better return by using cash with the registered card over using debit. Also you don't get a deduction for using services that are already subsidized, like the post office and a lot of other random things.
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Engrish Mufffin



Joined: 09 Jun 2013

PostPosted: Mon Mar 31, 2014 5:25 am    Post subject: Reply with quote

furtakk wrote:
wishfullthinkng wrote:
this is why you should never use cash in korea. NEVER.

i haven't once had to pay taxes here, including this year. every year has netted me a return due to not paying in cash.


Yep yep. I always get around 4-500K back. This year, I will probably get over a million back because of the new tax breaks for wolsae renters.

Can you give more info on that? I mean rent is one of the few things I can't pay in card.
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