Korean Job Discussion Forums

[mzizzle]

Hello all, I have a question about our Korean taxes that I have not seen covered in this forum. Several co-workers have claimed that we are entitled to a tax refund of our korean taxes. From what I have heard, this process should be handled by your employer, and the refund is given after about 1 month of your taxes being filed. This is for our income tax only I believe. My workplace is split among people who have recieved this tax return and those that have never heard of it. Could anyone with knowledge of this process provide some definitive info? Again this is about our korean taxes only, thanks for your responses.

[tired of LA]

Yes, Korean employer usually files your Korean tax return for you. Every Korean employer I've had, 3, have filed a tax return for me every year I've been here. I usually do nothing more than sign a piece of paper they give me to sign and that's it. But like back home, not everyone will get a refund. Some people end up owing money for various reasons.

[Hamlet]

You will get most of your tax money back, assuming it's being paid at all. Use this calculator to see how much.

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


To get your money, follow the link below and download the form called Report of Exemption & Deduction from Income (it's fourth down from the top). Fill out the paperwork. It's looks confusing, but you hardly have to do anything. When finished, give it to your boss. It is hi/her responsibility to get your refund. Mine is always paid on the following pay day.

http://www.nts.go.kr/eng/resources/resour_41.asp?top_code=R001&sub_code=RS04&ssub_code=RSD1


If you are not informed, your boss will most likely try to cheat you. The fact that he/she has not mentioned anything yet means he/she is probably already cheating you (tax paperwork should have already been submitted, I think. It's either end of Jan or end of Feb.) If you want to be informed and in control of your own finances, download the book at the link below. The book is 106 pages, but it's simple and straight forward. After you read it, you will have the knowledge to be in full control of your tax obligations, and no Korean boss will again be able to cheat you out of your tax refunds.

http://www.nts.go.kr/eng/resources/resour_21.asp?minfoKey=MINF7420080211223143&type=V

Good luck!

[mzizzle]

thanks so much for your replies, much abliged!

[Hamlet]

The link I gave you for the book is wrong....this should work

http://www.nts.go.kr/eng/resources/resour_21.asp?minfoKey=MINF7420080211223143&type=V

[Hamlet]

crazy....the link changes when I post it!!

This is what you want...

Easy Guide for Foreigners' Year-end Tax Settlement 2009

You can find it on this site, if you look for it.

http://www.nts.go.kr/eng/index.asp