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Joseph SY Zoh

CPA, California, a member of AICPA  |  Jz Associates/Tax Accounting Firm Hae-An

F:+82-31-273-5078  |  Skype: joezoh  |  Email: jz@taxjz.com

Web : www.taxjz.com  |  Blogs: www.koreantaxblog.com

Korean Tax Blog

since 1981-

Filing an Income Tax Return

Around eight million sole proprietors are preparing the Global Income Tax Return in May. Are you?

A lot of expats who are working in a company through an employment contract need to file their tax return in May—especially if he or she had a large sudden tax claim in last February because they didn’t prepare the deductible items on time. Some expats who are working for a company through a freelance or contract agreement also need to file a tax return if they only paid 3.3% tax during the 2014 fiscal year.

Please do not miss the due date to avoid unnecessary attention from the tax office and to avoid penalties for filing late or not filing at all.

To receive tax reductions, you need to do the following:

1.     For employees

-       Check your deductible items first with your employer

-       Pay any penny by your check card or credit card, even for bus, subway or taxi

-       Get donation receipts at the temple, church or charity organization you contribute to

-       Buy the national pension and medical insurance if you can

 

 

2.     For freelancer or contractor (3.3% payer)

-       Make a memo of your payments and do your best to get the receipts

-       Pay any penny by your check card or credit card, even for bus, subway or taxi

-       Get donation receipts at the temple, church or charity organization you contribute to

-       Buy the national pension and medical insurance if you can

 

Any questions or comments, please feel free to email me at jz@joezoh.com

 

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