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
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. 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. 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
