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Korea tax guide[Hometax]

[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
September Tax schedule in Korea Below is the main tax schedule for September in South Korea. 1.Withholding tax filing(9/11) When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them. *For example, if your employee has a contracted salary of 2,500,000 KRW, you must deduct 35,600 KRW for taxes, and pay your employee 2,464,400 KRW. The 35,600 KRW you deducted must be repo.. 더보기
How to register business bank account to Hometax Please follow the steps outlined below to register your business bank account with the Korea Tax Office. *Note that corporate bank accounts are automatically registered. If your company is categorized as corporate and not an individual business, you can proceed to skip this process. 1.Search ‘Hometax’ 2.Click 국세증명.사업자등록.세금관련 신청/신고 -> 사업용 공익법인 계좌 개설/조회 3.Log in to Hometax 4.Enter your business re.. 더보기
Crucial Tax Deadlines in July: Stay Updated and Fulfill Your Obligations 1.Withholding tax filing(7/10) When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them. *For example, if your employee has a contracted salary of 2,000,000 KRW, you must deduct 100,000 KRW for taxes, and pay your employee 1,900,000 KRW. The 100,000 KRW you deducted must be reported on a withhold tax return and paid to the tax office on.. 더보기
Stay on Top of Your Tax Obligations: Important Deadlines to Meet in April! 1.Withholding tax filing(4/10) When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them. For example, if your employee has a contracted salary of 2,000,000 KRW, you must deduct 100,000 KRW for taxes, and pay your employee 1,900,000 KRW. The 100,000 KRW you deducted must be reported on a withhold tax return and paid to the tax office on .. 더보기
Simplify Your Business Expense Management: Register Your Credit Card on Hometax and Wave Goodbye to Receipts! Registering your credit card on Hometax can save you the hassle of collecting receipts. Follow the steps below to get started 1.Search ‘Hometax’ ​ 2.Click '전자(세금)계산서, 현금영수증, 신용카드 -> Click '사업용 신용카드 등록 및 조회 3.Verify your business registration number and enter your credit card and phone numbers. Then click on '등록접수하기' to complete the registration process. (*If you have only one business, the regis.. 더보기
Important Tax Deadlines You Need to Know for March 1.Corporate inocme tax filing (~3.31) If you run a company in Korea, you need to pay taxes on the money you make. You have to file a special tax form called a "corporate income tax return" and send it to the tax office. The deadline for this is three months after the end of each year, which is usually December 31st. But some companies choose a different year that ends in March, and they have to .. 더보기
How to copy digital certificate? When you login to bank homepage or government related sites (for example, Hometax), They require special system in Korea called digital certificate in Korean, '공인인증서'. You may have seen this window when you login to homepage. Digital certificate is certificate issued electronically by bank. and it’s used for banking or login to govermental site like Hometax(national tax service). When you make b.. 더보기

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