Korean Job Discussion Forums

kittyfye · Joined: 23 Feb 2004 Location: South of Seoul..way south

Each month my employer takes out W70,000 from my pay of 2 mil. Do I get that back? If so, how?

denverdeath · Joined: 21 May 2005 Location: Boo-sahn

That seems a little low for deductions on 2mil. It should be closer to 200,000. Something like 90,000 for pension, 50,000 for income tax, and 50,000 for medical. Maybe yours is a combo of tax and medical? Anyway, unless you have a tax overpayment, you won't get anything back.

VanIslander · Posted: Tue Jul 19, 2005 2:30 pm Post subject:

50,000 won is taken off of my 2,000,000 won every month for taxes and whatever.

It's a pretty small amount, nowhere near the tax rates back home.

So I ask no questions in fear of more coming off!

If you pay about 5 % then you've got nothing to complain about - unless you're reaching.

kittyfye · Joined: 23 Feb 2004 Location: South of Seoul..way south

Whose complaining? Im American, it's money, I want to know.... HA!! Anyway, thanks for your suggestions and assurances, guys. There is no pension or insurance at my hakwan, so the W70, 000 is just "tax-ah", as they tell me.

As for 'back home', if you do not earn a certain amount during the year, then you get all witholdings back.

Ya-ta Boy · Joined: 16 Jan 2003 Location: Established in 1994

As far as I know, we don't get the tax back. It goes to build those highways and pay for those cops.

just because · Joined: 01 Aug 2003 Location: Changwon - 4964

It goes straight into the directors hands who spends it on room salon women...

Your tax dollars are paying for your directors poontang

deessell · Joined: 08 Jun 2005

It's building a "dynamic korea".

Grotto · Joined: 21 Mar 2004

if you dont have medical or pension then he isnt paying tax either.

The amount of tax you should pay is: drumroll : http://www.nts.go.kr/eng/default.html

the tax withheld monthly from 2.0 is 28,950won

plattwaz · Joined: 08 Apr 2005 Location: <Write something dumb here>

Ya-ta Boy · Joined: 16 Jan 2003 Location: Established in 1994

Wow! Is plattwaz the only one who get's a tax refund? I've never heard of this.

JacktheCat · Joined: 08 May 2004

denverdeath · Joined: 21 May 2005 Location: Boo-sahn

I've gotten a refund before too. It wasn't actually a refund, it was because my workplace took out too much during the year. I overpayed. Other things to remember: If you are married, or not, and you have a Korean credit card, you can get tax credit for using your plastic (f*cked up policy if you ask me). You can also get more back if you have a kid...you claim whatever you can(diapers, blah, blah, blah) if the child is your dependant. Get a tax form from your workplace and have someone translate it for you...you might be surprised.