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buylow sellhigh
Joined: 18 Oct 2005
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 Posted: Tue Oct 16, 2007 6:06 pm Post subject: IN GREAT FEAR of Tax on Salary and Bonus |
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| If a non-teaching foreigner (f-4)is making 60 million won in salary and W100mn in bonuses a year, at what rate would they be taxed? Is the tax rate gonna be larger for the bonus than the base salary? Never bothered to get an accountant since I dont own a car or a house, but after getting my raise this week and transferring over to being a regular employee from contract employee, I am kinda freaked out that I will be getting hit huge in Korea than also having to pay the IRS their blood money. |
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boyne11
Joined: 08 Jul 2007
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| Posted: Tue Oct 16, 2007 7:13 pm Post subject: |
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Hate to break it to you but you'll effectively be in 30% tax bracket in Korea.
The good news is that I am sure that taxes you pay in Korea will be credited in your U.S. income tax.
Go find yourself a tax advisor. |
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