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Wrench
Joined: 07 Apr 2005
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 Posted: Tue Jan 24, 2006 1:31 am Post subject: Confusing taxes. Please help. |
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I came to the conclusion that taxes make no sense.
I called the NTT office and had a long chat with the help. Which in turn it seemed like no help at all. They told the director I should be paying 3% not 5%.
Now I have no clue how in this world people are saying you should be paying 29k a month at 3% last time I checked my math that would be 60k.
Can some one please explain in detail how 3% on 2 mil = 29k.
Why is the website saying that my withholding is 29k and when I call the NTT office I just get 3% is what you pay. I asked how much that should be and they just manage to blurt out 3% (*beep* how hard is to calculate that for some one).
Can I get like a tax form in Korean so I can show my director exactly how much I am supposed to pay.
Can some one please post a detail summary of final end year tax form or something..
I am confused and frustrated and slightly angry. Please help. |
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Yesterday
Joined: 15 Aug 2003
Location: Land of the Morning DongChim (Kancho)
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| Posted: Tue Jan 24, 2006 2:25 am Post subject: Re: Confusing taxes. Please help. |
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| Wrench wrote: |
I came to the conclusion that taxes make no sense.
I called the NTT office and had a long chat with the help. Which in turn it seemed like no help at all. They told the director I should be paying 3% not 5%.
Now I have no clue how in this world people are saying you should be paying 29k a month at 3% last time I checked my math that would be 60k.
Can some one please explain in detail how 3% on 2 mil = 29k.
Why is the website saying that my withholding is 29k and when I call the NTT office I just get 3% is what you pay. I asked how much that should be and they just manage to blurt out 3% (*beep* how hard is to calculate that for some one).
Can I get like a tax form in Korean so I can show my director exactly how much I am supposed to pay.
Can some one please post a detail summary of final end year tax form or something..
I am confused and frustrated and slightly angry. Please help. |
ok - the topic has been covered - go here to read -
http://www.eslcafe.com/forums/korea/viewtopic.php?t=50099&start=0
or go here -
http://www.nts.go.kr/eng/default.html and click on "monthly witholding tax -
or just go here http://nts.go.kr/front/service/refer_cal/gani/refer_gani_eng.asp
and if your salary is 2 mil then type in 2000 (x10,000) - your tax should be �� 28,950 per month - so if you have been told 29,000 - then that sounds correct -
NOW the twist........ although this is the official tax rate for your salary - many koreans, (that includes ALL koreans - directors, teachers, business people, etc) are not FULLY educated to understand this themselves - and they simply BELIEVE the OFFICIAL tax rate is 3.3% regardless of ones salary - I have a Korean teacher whose salary is 1.2 mil - she is paying 3.3% tax (roughly 39,600won) I told her - according the the tax office her tax per month on her 1.2mil salary should only be �� 2,580 per month - the next day - she told me - I don't care - most koreans believe the tax rate is 3.3 percent - so I will also pay that......
SO HOW UNEDUCATED ARE THEY?????....... even the """Public officials who you spoke to on the phone at the NTS office" don't even know what they are telling you"""" - basically you phoning them is just interrupting their coffee or smoko session - and they probably have no training....
OK - you are asking questions - its your choice - you can demand to pay only �� 28,950 per month - (the official korean tax rate for 2mil per month) or you can just pay 3.3% like most uneducated Koreans (all koreans) which would have you paying 66,000 won per month.....
but be careful - as we all know - you start a (small) conflict between your boss and yourself over something like this - they will take revenge on you.... it always happens....
BUT if your school is making you pay 5% - then that is complete FRAUD - your director probably isn't paying the tax at all - just taking the 5% (100,000) and putting it directly back into his/her pocket....
Last edited by Yesterday on Tue Jan 24, 2006 4:02 am; edited 1 time in total |
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Wrench
Joined: 07 Apr 2005
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| Posted: Tue Jan 24, 2006 3:36 am Post subject: |
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Nm I figured it out.. Stupid me.. Sorry guys
I had NTT call them and basically they admited that they knew nothing. But to save face they said that they add 2% because its a security deposit.. but 783k deposit seems a bit fishy. |
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