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Personal Income tax filing

January 2023 Tax Deadlines ​ ​ It's very important to know when taxes are due in Jan. And, for many business onwers, there are more tax deadlines to care about than just the due date for your corporate income(or income tax) tax return. ​ If you miss a tax deadline, the NTS (Korea National Tax Service) can hit you hard with penalties and interest. So, I'd like to introduce you what taxes you should pay and what other oblig.. 더보기
How English teachers pay taxes in Korea? -2 In succession to previous posting, I will talk about taxes of english teacher in Korea. (Especially teachers working for Hagwon) If you want to see my last posting, please check below link. How English teachers pay taxes in Korea? -1 In Korea which have super high educational passion (especially for English!), tons of foreign english teachers are working in Korea. They work at Public school, Uni.. 더보기
How English teachers pay taxes in Korea? -1 In Korea which have super high educational passion (especially for English!), tons of foreign english teachers are working in Korea. They work at Public school, University or Private academy(in Korean, Hagwon). As they work and get paid in Korea, they should pay taxes in Korea. However, Compared to the number of foreign english teachers in Korea, professional tax service for the teachers isn't e.. 더보기
How to report your tax in Korea? -3 Followed by my last posting, I will explain your report obligation of other income / financial income / pension income ​ If you want see previous postings, please click below link. How to report your tax in Korea? -1 You who are reading this article probably have incomes in Korea. your incomes might be rent income from your real-estate in Korea, dividend/interest income from your financial asset.. 더보기
How to report your tax in Korea? -2 In my last posting, I’ve explained incomes classification generated in Korea. How to report your tax in Korea? -1 You who are reading this article probably have incomes in Korea. your incomes might be rent income from your real-estate in Korea, dividend/interest income from your financial asset in Korea or your.. g-tax.tistory.com Depending on what kind of income you have, Tax filing obligation .. 더보기
You can claim your parents as dependents on your tax return To qualify as a dependent, the individual must meet several criteria, including living with you. you can claim your spouse/children/brother & sister/parents /spouse's parents who lives with you as dependent on your income tax return. You can get 1,500,000KRW income deduction for a dependent. if you have 3 dependents you are going to get 4,500,000 income deduction and it will reduce your tax liab.. 더보기
Claiming child as a dependent on your income tax return ​ There is age limit on claiming your child as dependent when you file your income tax return or year-end tax settlement. As your children get older, some of the rules about claiming them as a dependent on your tax return changes. It’s important to know the rules, because it can decrese your tax liabilites.. ​ 1.when you deliver a child ​There is tax credit you can get when you give a birth. And.. 더보기
Tax deadline in Korea (local tax) Besides national taxes like income tax and value-added tax, you also have obligation to pay local taxes in Korea. Local taxes are managed by district office unlike national taxes which are managied by tax authority like NTS. *If you want to know national tax deadline, please click below links. Tax deadline in Korea (National tax) There are quite many kind of taxes in Korea, and every taxes have .. 더보기