Korean Job Discussion Forums

[bassexpander]

I'm getting back about 1.5 million, which is about the same as last year. A friend, who is a long-time teacher on an F-2, had never applied to get his taxes back.

Do you?

Not sure how it's done elsewhere, but my school (and my previous school) does most of this for me. I do have to input their numbers into a national website, though, where I can check if I've made enough in deductions.

[fustiancorduroy]

Yes, I've gotten back taxes here, but never more than a few hundred thousand won. Why are you getting so much back? Because you are married?

[Hamlet]

Last year I did nothing and got back 800,000. This year, the accountant in our company sent me the Easy Guide for Foreigners' Year-end tax Settlement and told me to fill out the proper paperwork. It's 106 pages!! What's "easy" about a poorly written, 106 page book about how to file your taxes? I'm so confused.

Has anyone read this book? I'm on an e-7, and I work in publishing. Does anyone in the same position as me have any advice? If not, I guess I'll have a bit of reading to do this weekend.

[paulf]

I have also got a decent tax refund before-and the accountant just asked me to sign a paper and she handled it all. I am at a new school now and i am sure I will have to remind them to do it. When is the end of the tax year?

[loyfriend]

I got 1800 back. Was nice.

[sjk1128]

Your employer usually files your taxes for you. Your responsibility is to turn in your deductions to your employer. The guide helps clear up any misunderstandings about who's supposed to do what, when, and what counts and what doesn't. It's happening a month later this year than in the past because the fiscal tax year was changed to match the calendar year.

To check how much tax you will owe or how much refund you will get, the easiest thing is to collect all your info about deductions, plug your numbers in here

http://www.nts.go.kr/eng/help/help_53.asp?top_code=H001&sub_code=HS05&ssub_code=HSE3

and then click "calculate" to see what it spits out. It really is easy. The only hard part (sometimes) is getting your employer to honor its own country's tax regulations. They'll argue that you're self-employed when you're not, that the 30% reduction in taxable income does not apply to you, that your deductions don't count because you're not Korean, blah, blah, blah, blah. If you dot all your i's, cross all your t's, and your employer still refuses to file a correct year-end settlement for you and give you a copy of that paperwork, you can and should call the tax office to complain.

Every year here, people come on Dave's and complain about not understanding the tax system in Korea, but all the information is available in English on the website except the section that compiles your deductions for you automatically (not very hard in Korean if you have an electronic banking certificate) and you can just collect them separately in lieu of using that anyway, so it's hard for me to have sympathy. If your employer tries to screw you on the year-end tax settlement, I feel your pain. However, if you're too lazy to read in your own language (for most people on this board), then maybe you should get ripped off. The only thing that bothers me about that now is that it makes me look stupid in some Korean employers' minds so that if I work for your boss later, he may try to screw me too since "the other foreigner" (i.e. you) let him get away with it for so long.

Ahhhhhhh, haven't released a rant against fellow foreigners in a while. Feels gooooood....

BTW, of the 698,000 I paid in this year in taxes, I am supposed to get back 419,000.

Good luck.

[Pinished]

I'm gettin 3 million Won back, thank you!

[bassexpander]

I get more back because my school holds more back. When I do lots of OT or teach classes during breaks, my salary can balloon to as high as 6 million won+ for a month. That kicks me up in a much higher tax bracket (as if I'm rich or something). I get taxed by my school, but it balances out at years end when compared to my regular salary... so I get it back.

It's nice getting a big chunk at the end of the year, but I'd rather have it earlier and enjoy the interest I can make on it.

[lifeinkorea]

I prefer to not get robbed.

I'm Allowed to Rob You! by Larken Rose
http://www.youtube.com/watch?v=ngpsJKQR_ZE

[JJJ]

Thanks for that NTS calculator. Now I have something to show my public school on Feb. 1st when I get back. The phoned and said they just took off 770,000won from my paycheck for taxes. No idea where the number came from but I did both calcuations and I either owe 460,000 or 286,000 won depending on the flat rate or whatnot.

So, thanks for that, I can bitch a little more to go along with them telling me that they only have to pay one month's severence for 1 year and 11 months of service...jeez. (I started in April, 2 years ago and the contract with SMOE says March 1st).

[Hamlet]

Just finished reading the tax guide and using the calculator--I'll be getting 1.6 back this year!!