FLAT TAX 19% is extended. 50% TAX CUT for foreign ENGINEERS is also extended. Q: Hi Christie Is 19% foreigner tax extended to 2019? A: Hi Daniel Tax revision for 2019 is finalized /announced at the end of 2018. Foreigner flat tax rate of 19% (on salary income) will be effective until the year 2021. … Read more
Q: Hi Christie We have a Canadian candidate looking to come to Korea to work for my company in Daegu. (Foreign Direct Investment corporation) He wants to receive KRW200m base AFTER tax is paid. He will also get a discretionary bonus. What should we advise him? Also, does he qualify for foreigner 19% tax / how does … Read more
Q: One of our part-timers, who is on an F visa, is asking for a raise because she said she’s having to pay too many taxes since she has a full-time job teaching at a university and another part-time job teaching yoga. (In my company, she is working as a part-time yoga instructor.) She only earns … Read more
Q: If it’s okay, I had a question regarding the tax office. When I first came to Korea in 2013, my hagwon boss told me not to worry about the taxes and that the employer usually takes care of it. But now I know 2017 was the first year I was registered. Is the tax office … Read more
Tax rate and Marriage Hi Christie, Firstly a quick clarification – I am thinking of switching to Spouse visa (F-6) from employment visa (E-7). Would that have any tax implications since I have in Korea for less than 5 years and elected to use expat flat rate which is more favorable? In other words, if … Read more
Top 3 Benefits of Hiring Part-time staff in Korea Three types of employment in Korea which are common: regular worker, freelancer, part-timer. Part-timers are often used for a light duty work on a small time basis. Here, I focus on a part-timer working less than 60 hours for less than 2 month period. Benefits of … Read more
Korea Wire Transfer Limits [International Wire Transfers] QUESTION: Is there a limit on how much I can transfer overseas from Korea as a foreigner before I have to report it? Hello Christie I have a quick question regarding international wire transfers. I have a Korean account. I plan to send money to my US bank … Read more
Lump-sum National pension refund when leaving Korea. #NationalPension #Socialsecurity #selfemploymenttax #pensionrefund #immigration My American friend Jame had to take care of a lot of things (family, house etc.) while moving back to USA and forgot about the pension he contributed over years. Later, he got the refund by below process. There are three cases of … Read more
Q: My family has precision tool business in the UK and I wish to have an affiliate in Korea. What is best way to form? Subsidiary or Branch? ANSWER: If you wish to set up a legal entity that is rooted (or funded) from the parent company, you have two options. Subsidiary and Branch Differences: … Read more
The Seoul Global Center is kicking off it’s business startup school again, and I’ll be teaching the tax portion. This is a great lecture series for anyone who wants to know how to startup a business in Korea.
