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tax korea

What will be the minimum wage in Korea for 2025? (How much should a company pay when hiring an employee at minimum wage? The minimum wage for 2025 has been set at 10,030 KRW ($7.30) per hour, exceeding 10,000 KRW for the first time. This represents a 1.7% increase from the minimum wage of 9,860 KRW in 2024. If you are an owner of the business it's not the happies news cause as minimum wage increased, the burden of salary and social insurance for employer's would be increased. when company hire an employee, company.. 더보기
[Tax benefit]Tax Benefits Available to SMEs (Small and Medium Enterprises) - Part 1 (Tax Credits for Enterprise Job Growth) Did you know that there are tax credits you can get when you hire employees? These tax credits are known as 'tax credits for enterprises increasing jobs.' They are part of a government policy aimed at boosting job creation and reducing unemployment rates. The tax credit amounts can be substantial, but it's important to consider both the advantages and disadvantages of this tax credit. 1.Your tot.. 더보기
[VAT]Corrected Tax Invoice issuance: A Step-by-Step Guide with Screenshots In our previous post, we discussed how to make corrections to a tax invoice that has already been issued forvarious reasons such as transaction cancellations, product or service returns, or errors in the invoice information. [VAT] Are you familiar with the concept of a 'Corrected Tax Invoice'? Have you come across the concept of a 'Corrected Tax Invoice'? A Corrected Tax Invoice is a type of inv.. 더보기
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
[Payroll]Withholding tax guide [G-tax guide book] Do your company have employees? than I'm sure your company pay salary to your employees. When you pay salary, you should pay 'net salary' which deducted taxes (if need, social insurances too) from salary not the total amounts of salary which is before tax. And deducted taxes should be paid to tax office. yes it means company pay employees taxes on behalf of them from their salary. we call this p.. 더보기