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Korean Job Discussion Forums
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Aquaricorndos
Joined: 29 Apr 2011
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 Posted: Tue May 03, 2011 4:27 pm Post subject: Income Tax (US) - above sticky is confusing... |
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For Americans, we can be exempted from paying Korean income taxes for the first 2 years if we provide the school with our proof of residency and some other form (?). The sample contract on EPIK's website says I would need to provide the proof of residency and the application for tax exemption to my school before the first payday. I can get the residency certificate, but where is this application for tax exemption? According to some responses here, all I really need to do is provide the residency certificate to my school.
Just saying, rather keep my 4.5% of salary  |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Wed May 04, 2011 10:11 pm Post subject: Re: Income Tax (US) - above sticky is confusing... |
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| Aquaricorndos wrote: |
For Americans, we can be exempted from paying Korean income taxes for the first 2 years if we provide the school with our proof of residency and some other form (?). The sample contract on EPIK's website says I would need to provide the proof of residency and the application for tax exemption to my school before the first payday. I can get the residency certificate, but where is this application for tax exemption? According to some responses here, all I really need to do is provide the residency certificate to my school.
Just saying, rather keep my 4.5% of salary |
Right. Just submit the 8802 form to get your residency certificate and when you get the cert, gie it to your school. They'll take care of the rest.
I don't think you have to get it before your first payday, though. But if you can, great. Just get it before tax time.
So, that's for Korean taxes...
For your US taxes (presuming you want to be exempt from those, too), you file a 2555 form using the physical presence test (be in Korea at least 330 days) with your 1040 when tax season comes around. |
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