Korean Tax Blog

What Happens If a Foreigner Misses a Korean Tax Filing Deadline? “I was supposed to file a Korean tax return, but I missed the deadline. What should I do?” Missing a Korean tax filing deadline does not necessarily mean that nothing can be done. Foreign taxpayers may still have options to correct the situation, but it is generally better to deal with a missed filing as soon as possible. What Happens If You Did Not File at All? If you were required to file a Korean tax return b

Do Foreign Employees Have to Pay Tax on Side Jobs or Freelance Income in Korea? “I have a full-time job in Korea, but I also earn money from freelance work. Do I need to pay additional tax?” Possibly. If you are a foreign employee working in Korea and earn additional income from freelancing, consulting, teaching, content creation, or another side job, that income may have separate Korean tax implications. Completing your company’s year-end tax settlement does not always mean

Do Foreign Business Owners Have to Pay Income Tax in Advance in November? “I run a business in Korea. Why am I being asked to pay income tax in November?” If you are a foreign individual business owner in Korea, you may need to check whether Korean Income Tax Interim Prepayment applies to you. This is separate from the regular Comprehensive Income Tax filing that generally takes place in May. What Is Income Tax Interim Prepayment? Korea operates an interim prepayment system f

Enrolling in the National Pension offers a significant tax-saving benefit. This benefit applies to both employees and self-employed...