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taralee
Joined: 12 Jun 2006
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 Posted: Thu Jun 15, 2006 10:00 am Post subject: Another tax question... |
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| A contract that I am looking at says they will take off 4% taxes. What is the rate it should be? I have been reading that it is 3.3%, but haven't found anything definate. Any help would be appreciated. |
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Grotto
Joined: 21 Mar 2004
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| Posted: Thu Jun 15, 2006 10:06 am Post subject: |
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http://www.nts.go.kr/eng/default.html
go to this website and check your monthly withholding tax
on a salary of 2 mil its about 1.6%
enter the salary in as thousands: 2 mil is 2000 |
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Reason.
Joined: 13 May 2006
Location: Los Angeles, CA - for now.
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| Posted: Thu Jun 15, 2006 10:53 am Post subject: |
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| Grotto wrote: |
http://www.nts.go.kr/eng/default.html
go to this website and check your monthly withholding tax
on a salary of 2 mil its about 1.6%
enter the salary in as thousands: 2 mil is 2000 |
I've had some discrepancies in relation to this. I read in another post that others were having the same queries regarding this very low income tax rate, and it was stated that the 1.6-1.8% figure were for "salarymen", and not yearly contracted workers.
The last few schools i've spoke with all told me 3.3% as well. So which is it? |
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alabamaman
Joined: 25 Apr 2006
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| Posted: Thu Jun 15, 2006 11:07 am Post subject: |
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| Reason. wrote: |
| Grotto wrote: |
http://www.nts.go.kr/eng/default.html
go to this website and check your monthly withholding tax
on a salary of 2 mil its about 1.6%
enter the salary in as thousands: 2 mil is 2000 |
I've had some discrepancies in relation to this. I read in another post that others were having the same queries regarding this very low income tax rate, and it was stated that the 1.6-1.8% figure were for "salarymen", and not yearly contracted workers.
The last few schools i've spoke with all told me 3.3% as well. So which is it? |
Last edited by alabamaman on Thu Jun 15, 2006 11:12 am; edited 1 time in total |
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alabamaman
Joined: 25 Apr 2006
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| Posted: Thu Jun 15, 2006 11:11 am Post subject: |
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| alabamaman wrote: |
| Reason. wrote: |
| Grotto wrote: |
http://www.nts.go.kr/eng/default.html
go to this website and check your monthly withholding tax
on a salary of 2 mil its about 1.6%
enter the salary in as thousands: 2 mil is 2000 |
I've had some discrepancies in relation to this. I read in another post that others were having the same queries regarding this very low income tax rate, and it was stated that the 1.6-1.8% figure were for "salarymen", and not yearly contracted workers.
The last few schools i've spoke with all told me 3.3% as well. So which is it? |
The employee would have 28,950 Korean Won withheld per month from his monthly salary for withholding taxes throughout the contract period. The total amount of withholding taxes withheld throughout the contract period would be in the amount of 347,400 Korean Won.
3.3% @ 12 months = 792,000 Korean Won
They have just hustled the employee for 444,600 Korean Won in his contract period! That's why they claim it's 3.3% although they are full of crap! |
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Grotto
Joined: 21 Mar 2004
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| Posted: Thu Jun 15, 2006 11:21 am Post subject: |
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Could you define 'salaryman' for me?
Wouldnt that be anyone who is paid a salary? As contracted workers we are also paid a salary are we not? So the difference would be???????????  |
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Reason.
Joined: 13 May 2006
Location: Los Angeles, CA - for now.
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| Posted: Thu Jun 15, 2006 2:40 pm Post subject: |
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| Grotto wrote: |
Could you define 'salaryman' for me?
Wouldnt that be anyone who is paid a salary? As contracted workers we are also paid a salary are we not? So the difference would be??????????? |
Haha, not sure, Grotto.
I too was wondering the same thing. The thread was actually made yesterday, so it should be on 1 of the first two pages. |
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