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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-

Why you need a check or credit card to save your tax?

 

For salary income, those check/credit card amount will be a tax deductible expenses with 3mil.won maximum. Once you wiped 13mil.won while earning 30mil.won salary income, you can deduct around 3mil.won and can save 200,000won-450,000won income tax at the year-end settlement.

 

So you need a check(30%) or credit card(25%) to save tax, and most likely check card since a lot of bank reluctantly issue a credit card if you hold the E-2 VISA.

 

When you issue a check card, you can also ask to embed a transportation card(교통카드) function with VISA or MASTER for wiping abroad if you wanted. 

 

You can register the credit/check card at the NTS Hometax website, it's automatically record your spending and issue a certificate during your year-end settlement period in January.

Otherwise you can visit a bank deal with and ask them to issue "신용카드등 사용확인서-소득공제용" in person to submit it to your employer.

 

More details, please send me an email to jz@taxjz.com

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