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CPA

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
Is it safe to pay your phone bill using your corporate bank account? Way to Avoid potential risks. 1.Welfare expense Vs Employee's Salary "Welfare expense" refers to money that a company spends on employee benefits such as meals, snacks, or company dinners. "Salary" encompasses an employee's basic pay and any financial benefits they receive. To determine whether an employee's phone bill payment should be included as part of their salary or welfare expense, it's important to clarify whether it.. 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
[VAT]Why Your Meal Expenses Are Not VAT Deductible for Your Business? 1.Entertatinment expense As you run your business, you may occasionally treat your clients to luch , dinner, or some gift. and we can account for these costs are "entertainment expense" on your income statement. The rule for VAT deduction is, if you spend money for your business and obtain a tax invoice, cash receipt, or use a credit card(qualified receipt), your can deduct amount of VAT of your.. 더보기
G-tax Providing services If you're looking for a way to better understand your company's tax situation, look no further than G-tax! We offer a user-friendly English version of tax return forms that are designed to simplify the process and help you stay on top of your tax obligations. Our streamlined approach to tax filing ensures that you don't have to navigate complicated tax laws or worry about making costly mistakes... 더보기
[Payroll]Withholding tax guide [G-tax guide book] Do your company have employees? than I'm sure your company pay salary to your employees. When you pay salary, you should pay 'net salary' which deducted taxes (if need, social insurances too) from salary not the total amounts of salary which is before tax. And deducted taxes should be paid to tax office. yes it means company pay employees taxes on behalf of them from their salary. we call this p.. 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
To register to Hometax(NTS) is first step of your business Hometax is Korea’s national tax service homepage. You can do almost everything related to tax through this homepage without going to tax office in person. To use this site, hometax, you need an ID & PW.Please follow below process.1.Search ‘Hometax’ ​​2.Click the ‘회원가입’ in the upper part. ​3.Check you are business or individual userIndividual : Use resident number (13digit)Business : Use business.. 더보기

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