| View previous topic :: View next topic |
| Author |
Message |
butlerian
Joined: 04 Sep 2006
Location: Korea
|
 Posted: Mon Mar 19, 2007 9:33 pm Post subject: Tax Exemption for first two years? |
 |
|
| I just read on a website that ELI's in Korea - with the exception of Canadians - don't have to pay income for the first two years of working in Korea. Is this true? |
|
| Back to top |
|
 |
jhaelin
Joined: 30 Aug 2006
|
| Posted: Mon Mar 19, 2007 9:55 pm Post subject: |
|
|
it's definitely the case when you work for public schools in korea.
i didn't pay taxes for the first two years.
not so sure about hagwons though.
legally it probably applies to all visa holders hired as teachers/researchers, regardles of instiutions of affiliation...
but oh well you tell that to mr. park the hagwon manager....
but if you really think about it if we are taxed appropriately with all the exmpetions that we qualifiy for we should be paying very little anyway.
e.g. on a 2.5 mil monthly salary
income tax (excluding health insurance and pension fees) comes to under 30,000 won.
that's a wapping 1.2% tax rate.
if you are paying significantly more than this please visit the tax authority website (it's in english) and get informed of your actual dues.
Last edited by jhaelin on Mon Mar 19, 2007 9:58 pm; edited 1 time in total |
|
| Back to top |
|
|
butlerian
Joined: 04 Sep 2006
Location: Korea
|
| Posted: Mon Mar 19, 2007 9:57 pm Post subject: |
|
|
| jhaelin wrote: |
it's definitely the case when you work for public schools in korea.
i didn't pay taxes for the first two years.
not so sure about hagwons though.
legally it probably applies to all visa holders hired as teachers/researchers, regardles of instiutions of affiliation...
but oh well you tell that to mr. park the hagwon manager.... |
I see. Did you have to do anything to activate the tax-free clause? My public school doesn't provide me with a pay check, so I've no idea if I'm paying tax or not. |
|
| Back to top |
|
|
jhaelin
Joined: 30 Aug 2006
|
| Posted: Mon Mar 19, 2007 9:59 pm Post subject: |
|
|
| butlerian wrote: |
| jhaelin wrote: |
it's definitely the case when you work for public schools in korea.
i didn't pay taxes for the first two years.
not so sure about hagwons though.
legally it probably applies to all visa holders hired as teachers/researchers, regardles of instiutions of affiliation...
but oh well you tell that to mr. park the hagwon manager.... |
I see. Did you have to do anything to activate the tax-free clause? My public school doesn't provide me with a pay check, so I've no idea if I'm paying tax or not. |
do you work for the provincial/city board of education or for the school directly?
i worked for the chungbuk provincial board and we had a great liason who took care of these matters, or was sure to inform us how to get it done.
the tax break was automatic in my case.
actually in reagrds to taxes the only headache was not being overtaxed but on my third year they forgot to tax me and i had to pay back tazes for that year. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
