Korean Job Discussion Forums

Koreabound2004 · Joined: 19 Nov 2003

I heard that next year foreign teachers might have to file income taxes in Korea....in addition to the one you will usually do for your home country...

Any word as to whether or not this is true?

Wangja · Joined: 17 May 2004 Location: Seoul, Yongsan

Don't they already?

Koreabound2004 · Joined: 19 Nov 2003

I know I don't.....I just have to worry about filing back home this year.

kangnamdragon · Joined: 17 Jan 2003 Location: Kangnam, Seoul, Korea

Teachers should be filing already. Most schools do it for them and the teachers just have to sign it. A lot of people I know got money back this year.

Koreabound2004 · Joined: 19 Nov 2003

Hmmm....strangee....

harryh · Joined: 16 Jan 2003 Location: south of Seoul

I wondered about this. Since I've been in korea I had INCOME TAX deducted at 5% in my first year and 4% in my present contract. As far as I know, it doesn't include PENSION TAX.

I believe the rate of income tax, after allowances is 3.3%. I've never received a rebate.

ajuma · Joined: 18 Feb 2003 Location: Anywere but Seoul!!

As far as I know, you have to have some proof that you've spent money in Korea to get a tax return. Car insurance, credit cards and the like. You'll get "end of the year" statements from your credit card and insurance companies. The "money person" at your school should know about it....MAYBE!!! Laughing

I got back a little over 800,000!!! Smile

Now, I just have to do my US tax return!!! Rolling Eyes