본문 바로가기

tax return

[Tax benefit]Tax Benefits Available to SMEs (Small and Medium Enterprises) - Part 4 (Tax Benefit for Corporations Relocating Their Head offices Outside the Seoul Metropolitan Area ) SMEs in Korea may be eligible for special tax credits and tax reductions under the 'Act on Restriction on Special Cases Concerning Taxation.' Today's post is about tax redemption clauses, which can cut your company's tax by 100% for 6 years.(50% for additional 3years) 1.Corporations wishing to obtain the tax redemption must meet the following conditions The corporation must have been operating a.. 더보기
[Tax benefit]Tax Benefits Available to SMEs (Small and Medium Enterprises) - Part 3 (Tax Credits for Investments) SME in Korea, may be eligible for special tax credits and tax reductions under the 'Act on Restriction on Special Cases Concerning Taxation.' Today's post continues our discussion of tax benefits, building on our previous posts on this topic. [Tax benefit]Tax Benefits Available to SMEs (Small and Medium Enterprises) - Part 1 (Tax Credits for Enterprise Job Growth) Did you know that there are tax.. 더보기
[Tax benefit]Tax Benefits Available to SMEs (Small and Medium Enterprises) - Part 2 (Special Tax Reductions or Exemptions) If your company is a Small or Medium-sized Enterprise (SME) in Korea, you may be eligible for special tax reductions under the "Act on Restriction on Special Cases Concerning Taxation." Here's how you can check your company's SME status and understand the special tax reductions 1.Criteria for Small or medium enterprises Determining whether a company qualifies as a Small or Medium Enterprise (SME.. 더보기
[VAT]Have you heard of Tax invoice? I assure You would know ‘invoice’ but have you heard of Tax invoice? 1.Almost every transaction require Tax invoice In Korea In Korea there is a unique system called the tax invoice. and it is required for every transaction that occurs between business owners. This means that both the seller and the buyer should issue and receive a tax invoice for every transaction. The value-added tax (VAT) in .. 더보기
How English teachers pay taxes in Korea? -1 In Korea which have super high educational passion (especially for English!), tons of foreign english teachers are working in Korea. They work at Public school, University or Private academy(in Korean, Hagwon). As they work and get paid in Korea, they should pay taxes in Korea. However, Compared to the number of foreign english teachers in Korea, professional tax service for the teachers isn't e.. 더보기
How to report your tax in Korea? -2 In my last posting, I’ve explained incomes classification generated in Korea. How to report your tax in Korea? -1 You who are reading this article probably have incomes in Korea. your incomes might be rent income from your real-estate in Korea, dividend/interest income from your financial asset in Korea or your.. g-tax.tistory.com Depending on what kind of income you have, Tax filing obligation .. 더보기
You can claim your parents as dependents on your tax return To qualify as a dependent, the individual must meet several criteria, including living with you. you can claim your spouse/children/brother & sister/parents /spouse's parents who lives with you as dependent on your income tax return. You can get 1,500,000KRW income deduction for a dependent. if you have 3 dependents you are going to get 4,500,000 income deduction and it will reduce your tax liab.. 더보기
Claiming child as a dependent on your income tax return ​ There is age limit on claiming your child as dependent when you file your income tax return or year-end tax settlement. As your children get older, some of the rules about claiming them as a dependent on your tax return changes. It’s important to know the rules, because it can decrese your tax liabilites.. ​ 1.when you deliver a child ​There is tax credit you can get when you give a birth. And.. 더보기