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njp6
Joined: 01 Sep 2005
Location: Gangnam, South Korea
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 Posted: Tue Jul 14, 2009 8:11 pm Post subject: Certificate of Residence Registration--What is this? |
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| I've recently been requested to provide my Certificate of Residence Registration. What is this? Has any body gotten one of these before? |
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alphakennyone
Joined: 01 Aug 2005
Location: city heights
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| Posted: Tue Jul 14, 2009 8:13 pm Post subject: |
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I believe it's to waive paying South Korean Taxes. It's only necessary if you're a new teacher. if you've been in Korea 2 years, you pay Korean taxes.
The document is proof of residency in your home country. So you'd pay American/Aus/British/etc taxes instead of Korean taxes.
I dunno why the public schools are pushing it so much. For most of us, it's a better deal to pay Korean taxes and get the "exception" from paying our home taxes. |
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polonius
Joined: 05 Jun 2004
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| Posted: Tue Jul 14, 2009 8:14 pm Post subject: |
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You can get one at your local gu office. I am not sure what it is called in Korean, but it only costs 1,000 won.
Essentially it is a piece of paper that shows your status.
Who requested it? |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Tue Jul 14, 2009 8:20 pm Post subject: |
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| alphakennyone wrote: |
I believe it's to waive paying South Korean Taxes. It's only necessary if you're a new teacher. if you've been in Korea 2 years, you pay Korean taxes.
The document is proof of residency in your home country. So you'd pay American/Aus/British/etc taxes instead of Korean taxes.
I dunno why the public schools are pushing it so much. For most of us, it's a better deal to pay Korean taxes and get the "exception" from paying our home taxes. |
This is spot on. Thank you.
I wonder too why the schools are suddenly pushing this. It is far more advantageous for foreigners to pay the local tax as opposed to their home country's tax. I wonder if there isn't some advantage for the schools if their employee has foreign tax residency status, or if this is just a case of them being overzealous informing foreigners that this option exists. There does seem to be a lot of confusion about it as of late. |
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njp6
Joined: 01 Sep 2005
Location: Gangnam, South Korea
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| Posted: Tue Jul 14, 2009 8:24 pm Post subject: |
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Thanks for prompt info.
This is actually for uni. I've never had to produce one of these things before and I'm getting the run around trying to get this damn thing. I live in Seollung. Anybody know where I need to go for this? |
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alphakennyone
Joined: 01 Aug 2005
Location: city heights
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| Posted: Tue Jul 14, 2009 8:26 pm Post subject: |
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Yeah, and the thing is, you'll save all of 3% on your Korean taxes. Now if (IF!!! I don't think it's the case), you can avoid paying that 3% for two years and still not pay your home country's taxes, that's a nice perk. A few hundred dollars.
But it seems like you'd be trading 3% for your home country's 15% or higher.
Not worth the risk, new teachers. Just pay Korean taxes, and for Americans, look up IRS Form 2555 for next April.
As for where to get it, I think it's your home country's (where you should be living) tax office.
Unless you're talking about a completely unrelated document.
Last edited by alphakennyone on Tue Jul 14, 2009 8:27 pm; edited 1 time in total |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Tue Jul 14, 2009 8:26 pm Post subject: |
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| You don't want it. If you file it you won't be eligible to file a 2555 exempting your foreign earned income. |
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njp6
Joined: 01 Sep 2005
Location: Gangnam, South Korea
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| Posted: Tue Jul 14, 2009 8:52 pm Post subject: |
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holy hell. This is a lot more complicated than I anticipated.
I've been in K for three + years. I would hate to go back to paying US taxes. The tax break is part of the reason I'm here. |
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chris_J2
Joined: 17 Apr 2006
Location: From Brisbane, Au.
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