koreatax 썸네일형 리스트형 [Corporation set up] What are the differences between corporate and individual businesses in Korea? - 3 (Representative's salary) If you're considering launching a business in Korea, the initial step you'll want to take is obtaining a business license in Korea. We can categorize business licenses into two types: individual business licenses and corporate business licenses. There are significant differences to consider, particularly in the representative'ss salary. Today, I'll provide an explanation of these aspects. 1)As a.. 더보기 [Payroll] Reducing Your Income Tax with Non-Taxable Salary When you receive a salary from a company, it typically comes with taxes and four social insurance contributions that reduce your net income as your salary increases. However, there are a few salary components classified as non-taxable under the Income Tax Law. These items are exempt from both taxes and social insurance deductions. Today, I will explain three such non-taxable items and the condit.. 더보기 [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 invoice used to rectify errors or amend details on a previously issued tax invoice, primarily due to inaccuracies in the initial tax invoice or changes in the terms of a transaction with your clients. For instance, if you have issued a tax invoice to a client for a sale, but circumstances arise th.. 더보기 [VAT] Creating a Tax Invoice: A Step-by-Step Guide with Screenshots Having conducted numerous meetings with foreign individual business owners and corporate representatives in Korea, I've discovered that issuing tax invoices can be a source of frustration for them. The primary reason for this frustration is the lack of an English interface on Hometax, coupled with the complexity of the process. Therefore, in this guide, I will demonstrate how to issue a tax invo.. 더보기 Avoiding Costly Penalties: Understanding the Taxes You Need to Pay on High Employee Salaries 1.Local tax employee portion There is a local tax called "Local Tax Employee Portion", which not all companies are required to pay. Companies that pay an average monthly salary of over 150,000,000 KRW are obligated to pay this tax. To determine if a company is required to pay this tax, the average salary of the past 12 months, including the payment month, must be calculated each month. For examp.. 더보기 이전 1 다음
