Did you know some foreigners CAN open a business in Korea? But the information on the internet is just not clear 🙁 So I wrote a quick guide with pictures on things you need to know. Here’s the link:https://www.taxinkorea.com/access-foreigner-business-setup-guide/
Recently the Korean government is providing a covid-19 subsidy relief for registered businesses to lower the VAT burden. Usually, Korean VAT (Value Add Tax) rate is 10% so when you make sales, you add up 10% on your invoice to your client. This 10% VAT is then kept by the company and paid to the … Read more
Thinking of having your own tech business in Korea? How can you be tax-smart while working for a company or working as a freelancer? Wish to learn all the tricky terms you needed to deal with Korean labor laws? Come out and join my FREE tax seminar (6:20pm to 7:20pm June 25 Thursday, labor seminar … Read more
[FREE Expat Tax & Labor law Seminar] Thinking of having your own tech business in Korea? How can you be tax-smart while working for a company or working as a freelancer? Wish to learn all the tricky terms you needed to deal with Korean labor laws? Come out and join my FREE tax seminar (6:20pm … Read more
The answer is Yes. US Congress passed an economic stimulus plan to help economic hardship felt by many during the covid 19 pandemic. The restriction on receiving the money are; 1) Having a valid social security number and that no one claims you as a dependent. 2) Individuals making $75,000 or less (and married and … Read more
For the salary income earner, yearly salary income tax reconciliation (which is done by the company early next year) is one of the biggest financial events. The company handles the reconciliation, but the employee needs to provide their own deductions (to maximize the refund). Recently the government portal Hometax (www.hometax.go.kr) released 2019 tax reconciliation calculator, … Read more
At SGC 9th floor (International seminar convention), my tax seminar was held. I was very happy to meet around 60 students of around 25 nationalities (according to SGC staff) Amazing! @ Students: Thanks again for actively participating in my tax seminar @ SGC staff: I sincerely appreciate you all for arranging this. Thanks to … Read more
I am giving “Free Practical Tax Seminar” at Seoul Global Business Center! Hi Friends Over a year, I received many questions when I will give next tax seminar and now I am very happy to share that I will give one at 3:40pm Sep 29 (Sunday) at Seoul Global Center. [The link and QR … Read more
Q: We are a UK company looking for Korea VAT registration in our international trade business from Korea to Japan without forming a local company in Korea. We are trading raw materials for furniture mostly, used to through a Korean trader before, but now direct. We learned that our VAT could be handled without setting up … Read more
Since early this year I haven’t received many questions about cryptocurrency and Korean Taxes, but recently I am receiving a lot of questions again related to cryptocurrency-transaction-company-setup (or Korean capital gain tax reporting from the transactions). Are people expecting for “Kimchi Premium” again? (Special Korean phenomenon where the local prices for crypto assets have been … Read more
