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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
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
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
Year-end tax settlement guide -1 [PDF downloads] To start your year-end tax settlement in Korea, the very first thing you should do is to download ‘the PDF file’ from home tax. ​ The PDF file shows information of all receipts,medical bills and other bills you paid in a year. ​ *If you don’t get this PDF file, you should collect all the receipts, medical bills and other bills by yourself ​ ​ Almost all items are provided through this PDF file, .. 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