In order to make a logical question such as this, you would have to give some kind of source suggesting that taxes will be changed. I have not seen or heard that in English or in Korean anywhere. What makes you ask such a strange question? And calling me names isn't exactly the best way to reply to a question. It is childish and shows everybody how much of a bully you are trying to be. It isn't fair and it isn't helpful to answer your question.
Gilbert: "I have not seen or heard that in English or in Korean anywhere."
Did you actually look anywhere? Because I found this with one Google search on the main page of the Korean Tax Services website:
Second, the special tax
treatment is change. Last year, foreign workers
could choose either non-taxation treatment on 30% of the gross earning or 15%
flat rat, but where the former is abolished this year, onlt 15% flat rate is
applied.
It's a question- it needs no source, what, because you think so. Why don't you find out yourself if you are interested, instead of inane responses. How about I say I heard it on the ESL grapevine!!!!!!!!!!Is that enough or you. I have already said no!!I don't know, that's why I am asking.
Pretty much every government agency in Korea has an English website these days, and while the info on the sites may not be all that clear, you can usually verify/discredit rumors on the sites.
In regards to the 15% tax thing this was one google search away.
There are three major changes
for 2010 individual income tax filing.
First, taxation on foreign
engineers' earned income is changed. It was 100% exemption for
5 years, but this year and after, earned income tax will be exempted 50% for
2 year. This change is only applied to newly entered foreign engineers this
year and after, so those foreign engineers who are subject to the previous regulation
can ve exempted for the remaining period.
Second, the special tax
treatment is change. Last year, foreign workers
could choose either non-taxation treatment on 30% of the gross earning or 15%
flat rat, but where the former is abolished this year, onlt 15% flat rate is
applied.
Third, Korea nationals with
foreign permanent residency is excluded from the special tax treatment for foriegn
engineers and foreign workers.
If this is the case, we should get ATEK to organize a national "awareness day", eg wear a " I'm in the proverbial and can't afford to work here any more, or so much for immersion", T shirt to work.Perhaps a silence afternoon, hour, whatever, or do something. With the cost of living going up so quickly here, and even higher this year, we're buggered.The truth is no matter what we do, it wont be considered favourably.Probably make everyone hate us, so what, a few do anyway.
Also, our school told us about the change last March sometime (I forget exactly) and deducted taxes this year accordingly. So, the info has been out there for some time (announcement on KTS website is from last February. It shouldn't be a surprise, really.
My tax deductions off my pay check in 2009 were about 15,000 a month, but in 2010 were closer to 50,000.
The thing is what you get as a pay stub and what the school reports as pay are two different things.
Many schools divide the money into salary and grants and allowances and that kind of stuff. For example on paper to the tax revenue service your salary might be; 900000w/month, 400000w/month research grant, 300000w housing, ????? Who knows the tax laws and whatever schemes they have to not pay taxes.
Our pay stub; contract salary, perhaps a housing stipend and then deducations.
That's why you might not see an increase at all or you might see a lot depending on how clever they are or how much the admin. accounting office wants to play with the numbers.
We have lost our special 30% tax free income, but we can choose to be treated like Koreans with many deductions or elect to pay a 15% flat tax with no deductions. Unless you earn more than w120,000,000 you are better off to pay tax like a Korean.
For those of you being scammed by your employer and called an "independent contractor" with 3.3% withheld you are in trouble. Independent contractors get no deductions, although not many Hagwons deducting 3.3% remember to remit it anyway.
If you travel to different places to teach, or you are paid per student, then no scam at all. If however you attend 1 principle workplace, you are a part time employee, NOT an independent contractor. Although my comment was addressed to those in full-time employment and being called independent, it also applies to being a part-time employee.
I'm suprized you even allow them to do that. I've never heard of part-time job places taken tax out. I can assure you they most likely aren't paying it to the tax office.
Re: 15 % !!! New tax rates in Kore
Re: 15 % !!! New tax rates in Kore
Re: 15 % !!! New tax rates in Korea
Re: 15 % !!! New tax rates in Korea
Re: 15 % !!! New tax rates in Korea
Re: 15 % !!! New tax rates in Korea
Gilbert: "I have not seen or heard that in English or in Korean anywhere."
Did you actually look anywhere? Because I found this with one Google search on the main page of the Korean Tax Services website:
Second, the special tax treatment is change. Last year, foreign workers could choose either non-taxation treatment on 30% of the gross earning or 15% flat rat, but where the former is abolished this year, onlt 15% flat rate is applied.
Re: 15 % !!! New tax rates in Korea
Re: 15 % !!! New tax rates in Korea
Pretty much every government agency in Korea has an English website these days, and while the info on the sites may not be all that clear, you can usually verify/discredit rumors on the sites.
In regards to the 15% tax thing this was one google search away.
This from the National Tax Service website:
http://www.nts.go.kr/eng/nts/nts_01.asp?minfoKey=MINF7220080211223559&ty...
There are three major changes for 2010 individual income tax filing.
Re: 15 % !!! New tax rates in Korea
If this is the case, we should get ATEK to organize a national "awareness day", eg wear a " I'm in the proverbial and can't afford to work here any more, or so much for immersion", T shirt to work.Perhaps a silence afternoon, hour, whatever, or do something. With the cost of living going up so quickly here, and even higher this year, we're buggered.The truth is no matter what we do, it wont be considered favourably.Probably make everyone hate us, so what, a few do anyway.
Re: 15 % !!! New tax rates in Korea
Re: 15 % Tax- Don't pussyfoot around- Time to ask for a ...
http://www.koreatimes.co.kr/www/news/biz/2011/01/123_78395.html
http://www.koreatimes.co.kr/www/news/biz/2010/12/123_78859.html
Also, our school told us about the change last March sometime (I forget exactly) and deducted taxes this year accordingly. So, the info has been out there for some time (announcement on KTS website is from last February. It shouldn't be a surprise, really.
My tax deductions off my pay check in 2009 were about 15,000 a month, but in 2010 were closer to 50,000.
Re: 15 % Tax- Don't pussyfoot around- Time to ask for a ...
The thing is what you get as a pay stub and what the school reports as pay are two different things.
Many schools divide the money into salary and grants and allowances and that kind of stuff. For example on paper to the tax revenue service your salary might be; 900000w/month, 400000w/month research grant, 300000w housing, ????? Who knows the tax laws and whatever schemes they have to not pay taxes.
Our pay stub; contract salary, perhaps a housing stipend and then deducations.
That's why you might not see an increase at all or you might see a lot depending on how clever they are or how much the admin. accounting office wants to play with the numbers.
Re: 15 % Tax- Don't pussyfoot around- Time to ask for a ...
Don't Panic.
We have lost our special 30% tax free income, but we can choose to be treated like Koreans with many deductions or elect to pay a 15% flat tax with no deductions. Unless you earn more than w120,000,000 you are better off to pay tax like a Korean.
For those of you being scammed by your employer and called an "independent contractor" with 3.3% withheld you are in trouble. Independent contractors get no deductions, although not many Hagwons deducting 3.3% remember to remit it anyway.
Re: 15 % Tax- Don't pussyfoot around- Time to ask for a ...
As a part-time teacher I am only deducted 3.3% of my pay. How is that a scam?
Re: 15 % Tax- Don't pussyfoot around- Time to ask for a ...
Re: 15 % Tax- Don't pussyfoot around- Time to ask for a ...