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nahanni
Joined: 21 Mar 2007
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 Posted: Sat May 05, 2012 6:20 am Post subject: Raise the issue now or later ? |
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I've been looking for a decent hagwon for a while and think I may have found it.
The school forwarded a contract for review and it looks good apart from the income tax rate at 3.3%. I know that's incorrect as I would be an 'employee' enrolled in NPP & NHIC.
So, my question is should I bother mentioning the issue now or wait until I receive my first pay and then look into it ???
Opinions / suggestions ?
Thanks |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Sat May 05, 2012 6:30 am Post subject: Re: Raise the issue now or later ? |
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| nahanni wrote: |
I've been looking for a decent hagwon for a while and think I may have found it.
The school forwarded a contract for review and it looks good apart from the income tax rate at 3.3%. I know that's incorrect as I would be an 'employee' enrolled in NPP & NHIC.
So, my question is should I bother mentioning the issue now or wait until I receive my first pay and then look into it ???
Opinions / suggestions ?
Thanks |
You should post the contract in the contract review thread.
Many schools that have a 3.3% income tax withholding rate will register their teachers as Independent Contractors. Some schools just ignorantly believe that 3.3% is the correct rate for their foreign employees, usually because some accountant told them so.
Check out the job, talk to other foreign teachers from the school.
If you accept the job with a 3.3% income tax rate and everything else is OK, then it might not be bad. You should be able to file your taxes and get a refund. You shouldn't expect the school to change for you after you arrive.
If you don't like the 3.3% rate and aren't willing to accept it then you should ask about it now. Maybe they will change it for you based on you providing a link to the NTS site. Maybe they will refuse to change it and you can choose to take the job or reject the job. Maybe they will reject you because you asked. |
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nahanni
Joined: 21 Mar 2007
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| Posted: Sun May 06, 2012 2:49 am Post subject: Re: Raise the issue now or later ? |
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"Maybe they will reject you because you asked."
Yep.
I figure I'll keep my mouth shut for now, quietly raise the issue on payday and see what kind of reaction I get. I think it works out to be around an extra w600,000 for the year if I do pay 3.3%.
I tend to rush out of Korea as soon as my contracts are done. How slow and tedious is filing a tax return?
Thanks 'on'. |
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