Korean Job Discussion Forums

[winterfall]

I checked online and KEB bank has a little section that says you can use up to 20% of your yearly salary as income deductible. It counts for purchases on your debit & credit card and it separates purchases that don't count into a separate category. It's streamlined and pretty easy to use.

Does anyone know how to claim these deductibles? Do we have to submit the forms to the school or do we have to file our own Korean income tax form?

Based on the history I've got now, I should be deferred and or get a full refund for whatever taxes I payed this year.

[OculisOrbis]

Not sure if it's the same but it sounds very similar to this (see link below). Register at the tax office or online and you get the card that tracks your purchases. You can also register your cellphone and credit card. Then around tax time, you go to taxsave.go.kr and you can print out summaries of your deductions. Also, you get other deduction summaries there, too : Supplemental insurance (car, home...), medical expenses, etc. It's all done for you. Print and give to your admin staff for when they file your return.

http://joongangdaily.joins.com/article/view.asp?aid=2903760