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cj1976
Joined: 26 Oct 2005
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 Posted: Wed Mar 02, 2011 9:22 pm Post subject: Need some info re: Tax |
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| I now understand that there has been a change in the way foreigners are taxed, but this month I forked out over 700k. I need some kind of explanation in English. Are there any phone numbers I can call? |
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T-J
Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae
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| Posted: Wed Mar 02, 2011 10:42 pm Post subject: |
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82-1688-0120
Seoul Global Center
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Mar 02, 2011 11:14 pm Post subject: |
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or the foreign tax advocate at the NTS.
http://www.nts.go.kr/ |
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orosee
Joined: 07 Mar 2008
Location: Hannam-dong, Seoul
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| Posted: Thu Mar 03, 2011 4:33 pm Post subject: Re: Need some info re: Tax |
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| cj1976 wrote: |
| I now understand that there has been a change in the way foreigners are taxed, but this month I forked out over 700k. I need some kind of explanation in English. Are there any phone numbers I can call? |
 I'm looking for around 1.8 mil that didn't make it to my bank last month. Our personnel department still doesn't have the courage to face my questions.
I wish they'd told me BEFORE I made February my #1 spending month this year  |
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T-dot
Joined: 16 May 2004
Location: bundang
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| Posted: Thu Mar 03, 2011 4:39 pm Post subject: |
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| Medical Insurance and Income Tax adjustments have been deducted from your January and/or February wages. |
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orosee
Joined: 07 Mar 2008
Location: Hannam-dong, Seoul
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| Posted: Thu Mar 03, 2011 5:43 pm Post subject: |
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I'm just pestering our HR department.
According to the English version of the Tax office, in 2010 there was a change from previously 5 years of 100% tax exemption for certain visa classes to 2 years of 50% exemption. However, this only applies to newly entered foreigners and is not retrospective. Since I signed up with my current employer in May 2009, I think I still qualify.
But I just got told by my HR guy that the company never used the 5yr/100% method and went for 30% on gross instead
What, for 2 years I paid taxes and didn't even notice it????
I guess that will end my hopes for completing the 5 years... going to call the tax helpline and check. |
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jdog2050
Joined: 17 Dec 2006
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| Posted: Thu Mar 03, 2011 8:09 pm Post subject: |
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| orosee wrote: |
I'm just pestering our HR department.
According to the English version of the Tax office, in 2010 there was a change from previously 5 years of 100% tax exemption for certain visa classes to 2 years of 50% exemption. However, this only applies to newly entered foreigners and is not retrospective. Since I signed up with my current employer in May 2009, I think I still qualify.
But I just got told by my HR guy that the company never used the 5yr/100% method and went for 30% on gross instead
What, for 2 years I paid taxes and didn't even notice it????
I guess that will end my hopes for completing the 5 years... going to call the tax helpline and check. |
Probably not. I can almost guarantee you what happened is that whatever school you were at this past year did NOT PROPERLY TAX YOUR HOUSING SUBSIDY. It's been happening to a lot of people, myself included.
I had to pay 700K out of 1.4M because of this. The reason it was lowered was because my administrative office caught hold of me TWO DAYS before winter vacation to drop this steaming load of crap on me. Luckily it was just enough time for me to get in as many deductions as possible. I'm guessing your admin office didn't tell you about this either out of ineptitude or embarrasment, and basically cost you at least 800,000W dude.
You should definitely be pissed at your job. If they had told you earlier, you could have cut that in half. |
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orosee
Joined: 07 Mar 2008
Location: Hannam-dong, Seoul
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| Posted: Thu Mar 03, 2011 9:30 pm Post subject: |
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@jdog: Sorry, I didn't say but I'm not working as a teacher, just a regular engineering job. So no housing allowance, only a basic salary like my Korean colleagues (not even an expat contract anymore )
I haven't called yet but I'm tracking it down to whether or not I still fall under the exempted occupations; previously I was in the engineering inspection business (so I got put under the "technical genius" clause for 5 years exemption  ) but now I'd have to agree that my job is much less technical... then again, what were the reasons for approving my E-7? I better make that call; I just saw some numbers and I've been paying taxes since May 2009  , the reason I had to pay back so much now is because I got a mid-year 40% raise and there was a 4 month bonus at the end of the year...
Anyway I see that my experiences are not going to help anybody else here (unless you were wondering whether or not to pursue an engineering degree: do it!), so I'll leave it at that.
Your answer could apply to the OP though. The Forum should have a downloadable checklist for pre- and post-arrival, that would help a lot of people. |
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