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toonchoon
Joined: 06 Feb 2009
Location: Gangnam
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 Posted: Mon Aug 06, 2012 5:34 am Post subject: Q. about Taxes, tax accountants / consultants, tax credits.. |
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I've been here 4+ years, and rely on my employer to do my taxes. That was all dandy, until I looked at my pay stubs and tax docs and nothing adds up or makes sense.
I have started researching about taxes, and tax credits etc. a bit more, and I realize that I may be able to pay less taxes thank I *think* I'm paying. Problem is, I have nobody to confirm with, and nobody to consult with.
Does anybody know an English speaking personal tax consultant in Seoul? In the USA we have H&R block. Is there an equivalent in Korea? Does anybody have ANY experience with this in Korea?
Thanks in advance for the advice! |
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Nemo
Joined: 28 May 2006
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| Posted: Mon Aug 06, 2012 1:19 pm Post subject: |
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| There's an H & R Block in Itaewon. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Aug 06, 2012 2:49 pm Post subject: |
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the NTS also offers a foreign tax advocate to assist you with your taxes.
Contact them via the website.
. |
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toonchoon
Joined: 06 Feb 2009
Location: Gangnam
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| Posted: Wed Aug 08, 2012 8:28 pm Post subject: |
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I read some sketchy reviews of H&R block in Itaewon, but good to know the service is there.
As far as the tax advocate goes, I'll look into that.
Thank you both for replying. I couldn't get a straight answer from some of my friends here who are long-term expats. I don't get it... Looks some people come to Korea for a perma vaca. |
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giraffe
Joined: 07 Apr 2009
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| Posted: Wed Aug 08, 2012 10:16 pm Post subject: |
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Well There are accredited accountants if you dont want to use the free foreign tax advocates at the NTS. I use an accountant to do my taxes because the NTS doesnt know what to do with my taxes since my income comes from international sources and not from Korea. IT costs me 100k won to get my taxes done.
Basically all i had to do was give them a printout of my bank statement for the 2011 year. I highlighted all my income + give them any other paperwork they might need to help do your taxes like expenses and what not. They fill out your taxes and give you a piece of paper you need to bring to the bank. You pay taxes at bank and then the accountant sends your report to the NTS. It's pretty straight forward and they do a good job to make sure you pay the least amount of taxes possible.
Just make sure to bring a korean with you if the account doesnt speak english. |
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hiamnotcool
Joined: 06 Feb 2012
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| Posted: Thu Aug 09, 2012 6:54 am Post subject: |
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| giraffe wrote: |
Well There are accredited accountants if you dont want to use the free foreign tax advocates at the NTS. I use an accountant to do my taxes because the NTS doesnt know what to do with my taxes since my income comes from international sources and not from Korea. IT costs me 100k won to get my taxes done.
Basically all i had to do was give them a printout of my bank statement for the 2011 year. I highlighted all my income + give them any other paperwork they might need to help do your taxes like expenses and what not. They fill out your taxes and give you a piece of paper you need to bring to the bank. You pay taxes at bank and then the accountant sends your report to the NTS. It's pretty straight forward and they do a good job to make sure you pay the least amount of taxes possible.
Just make sure to bring a korean with you if the account doesnt speak english. |
Do you know how to go about finding accredited accountants while in Korea? The only one I could find was H&R Block, I talked to them and didn't have a good impression. I may give them a shot if I can't find anything else, but if you can guide me in the right direction for other options I would appreciate it.
I had an accountant in the States, but he was clueless about how to handle the situation here...well not clueless just not interested in going through the motions it requires I guess. Anyway, I would love to have someone I can hand all my paperwork off to here. |
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giraffe
Joined: 07 Apr 2009
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| Posted: Thu Aug 09, 2012 11:33 am Post subject: |
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| hiamnotcool wrote: |
Do you know how to go about finding accredited accountants while in Korea? The only one I could find was H&R Block, I talked to them and didn't have a good impression. I may give them a shot if I can't find anything else, but if you can guide me in the right direction for other options I would appreciate it.
I had an accountant in the States, but he was clueless about how to handle the situation here...well not clueless just not interested in going through the motions it requires I guess. Anyway, I would love to have someone I can hand all my paperwork off to here. |
Well First of all have you even tried going to the National tax office and talk to their accountants? They have foreigner services and its all Free.... If you're an english teacher ( sorry for assuming) They can easily take care of your taxes. If you work in english education your taxes should be straight forward and the NTS guys should be able to help you no problem... All for freee... This is for KOREAN taxes.... Nothing to do with anything in your homecountry taxes...
The only reason I cant use the National tax office accountants is because they've NEVER seen a case like me and have absolutely no clue what to do with my taxes/ situation...
As for how to find an accredited accountant, Perhaps ask your employer or even better ask some korean friends to help you find one. You can probably even go the NTS and ask them for some phone numbers/ references. Honestly though the great majority of the population here all do their taxes at the tax office. Soo unless you're a business / corporation or unless your in a similar situation that I'm in you shouldn't need to pay for an accountant to do you korean taxes. IN my case, My mother in law found the accountant for me.. Which is why i recommend you to ask a korean friend or employer to help you find one.
If' you're talking about doing your taxes from back home. I have no clue about international accountants in Korea. BY accredited accountant I was talking about korean accredited accountants that deal with korea taxes..
good luck. |
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