NTS(National Tax Services) expecting around 7.3mil. taxpayers are filing the above income tax return by the 31st of May for 2018FY income, last year it was 6.8mil. returns according to the NTS announcement including sole-proprietors.
The following taxpayers need to file this time;
- Freelancers; 3.3% tax payers during the year(Must)
- Sole-proprietors; hold a tax registration certificate(사업자등록증)(Must)
- Salaried employer; need some correction for the year-end tax settlement(Must)
Around 920,000 corporations need to file and pay the 1st quarter VAT return and 2,040,000 sole proprietors need to pay the interim VAT by the 25th of April.
Sole proprietors can file if the sales revenue reduces more than 33% or want to VAT refund earlier when there was a fixed asset investment for an example, otherwise need to pay the half of the amount filed on the Jan. 25, 2019.
You can pay the VAT by a credit card(0.8% fee will be added) or check card(0.5% fee will be applicable) for your inf...