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Tax saving tips (increasing your bottom line)

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

THANK YOU FOR ATTENDING MY TAX SEMINAR on Sunday(Sep29)

  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

Can I get my VAT refund without a local company setup?

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

“Kimchi Premium” again? (Korean for crypto assets have been visibly higher than prices on Western).

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

“Tax office processed 2018 income tax refund”

About a month ago (May31/2019), 2018 income tax return filing/payment was due. For the taxpayers who claimed for tax refund, tax office processed it, and also sent a short mail/email/text message. If you haven’t received the tax refund yet, please check what is going on (Maybe incorrect bank account is shown on your return etc.) … Read more

Seoul city solar panels are far from meeting the expectation.

Seoul city solar panels are far from meeting the expectation. I am interested in renewable energy especially after the fine dust problem and faced the following news today. Need “100 years” to pay the installation cost of Solar panel in Seodaemun Museum (in Seoul)” and the museum will remove the rooftop solar power plant on … Read more

FLAT TAX 19% is extended to the year 2021

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

Foreigner flat tax 19% is ending?

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

Part-timers usually do not pay any taxes.

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

Get help with Korean tax today.

Christie Lee and the friendly team at Hana Tax are ready to help local Koreans, expats and English speakers simplify their Korean accounting.